Price of petrol reduced by Rs 2.46 per litre, scope for further reduction.

With global crude rates coming down, petrol price in India has been cut by INR 2.46 per litre.There were hints from oil companies that petrol prices may come down further after earlier this month petrol prices were cut by INR 2.02 per litre.Even after this reduction, there exists a scope for cutting down rates by a further Re 1 per litre.

With all the levies and taxes, the total reduction amounts to somewhere around for Rs 3 in different cities of India.



Petrol prices in various cities of India

• New Delhi: Rs 67.78 (Less by Rs 2.46)
• Mumbai: Rs 73.35 (Less by Rs 3.10)
• Chennai: Rs 72.27 (Less by Rs 3.13)
• Bangalore: Rs 76.39 (Less by Rs 3.22)
• Hyderabad: Rs 74.89 (Less by Rs 3.22)
• Kolkata: Rs 72.74 (Less by Rs 3.07)
• Pune: Rs 73.70 (Less by Rs 3.16)

* Above mentioned are approximate prices

Thus the total decrease is approximately Rs 5 which is still less than the  hike of Rs 8 on May 24 but yes the effect has come down significantly and there speculations of further cut down in prices.After the enormous increase in petrol prices on May 24, there's some respite for the common masses.

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