Petrol prices may fall by Rs 2.50 by Independence Day!
Posted on: 12/Aug/2014 3:00:44 PM
As per government / industry sources, petrol prices are likely to fall to the lowest in one year on Independence day as state oil firms are planning to cut the fuel`s rate by Rs 2.50 per litre, the biggest fall in many months. The cost per litre in chennai will now be Rs. 73/-.
If the downward trend in international petrol rates continues and rupee appreciates against dollar by August 15 (when fortnightly review of prices is due), The cut may be steeper.
If the Indian Rupee had not weakened, the cut would have been Rs. 3/-.
This will be second consecutive petrol price cut in a month.
Revenue losses will go up marginally from current Rs 1.33 per litre.
