Wednesday, November 16, 2011

Petrol prices dropped by Rs 2.2

Petrol prices dropped by Rs 2.2
After days of speculation, here’s some good news. Petrol prices have been slashed by Rs 1.85 across the country with immediate effect. This is the first reduction in prices in nearly 33 months.

Oil companies had increased the prices by a steep Rs 1.82 a few days ago. The price slash today is the result of the companies passing on Rs 1.85 they gain from the fall of oil prices globally.

In Delhi petrol price will reduce by Rs 2.22. In Mumbai, the fall will be Rs 2.34, Kolkata Rs 2.31 and Chennai, Rs 2.35.

The reason for the drop in prices of fuel have been rasoned to the fall in global oil rates by upto USD 5 per barrel. Also adding to the factor is the slight fall in exchange rates from Rs 49.40 to Rs 49.20 per US Dollar.

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