Indian Oil Corporation Ltd decrease the price of petrol
Posted on: 01/Apr/2014 10:12:21 AM
With effect from midnight of March 31, 2014 Indian Oil Corporation Ltd. has decided to decrease the retail selling price of petrol by 75 paise per litre (excluding state levies
The price of petrol was last revised upwards by 60 paise a litre (excluding state levies) w.e.f March 1, 2014. Since last price change, there is a declining trend in international prices of MS and the INR-USD exchange rate has also been strengthening. The combined impact of both these factors has resulted in reduction in price of petrol, the benefit of which is being passed on to consumers through price decrease of 75 paise per litre (excluding VAT). With this price revision, RSP at Delhi shall decrease by 90 paise per litre.
The reduction, effective midnight, excludes local sales tax or VAT and the actual cut will be higher, varying from city to city.
Now Petrol price will cost Rs. 75.49 a litre in Chennai, down 99 paise from Rs. 76.48.
