With the promising growth in the value of Indian Rupee against US dollar, the price of petrol has become cheaper by 56 paise and has been put into effect from the midnight of October 8, 2012 in Delhi. Recently, the price of international crude oil has taken a fall, which has in turn brought down the cost of petrol in the country. With the implementation of new prices, petrol will now be sold for Rs. 67.90 per litre at the petrol pumps of Indian Oil Corporation in New Delhi against Rs. 68.46 per litre.
On the other hand, the other two fuel retailers, Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation are also anticipated to follow the cutback but the prices at their petrol pumps will differentiate by at least one or two paise. The price of petrol was last updated on June 24, 2012, when the government increased it by 70 paise.
Other Metropolitan may also see a slash in petrol prices following the reduction in the National Capital. Currently, petrol is retailed at Rs. 71.48 per litre in Chennai, while in Mumbai it costs Rs. 74.43 per litre.
