In a relief to two wheelers and petrol car users, Indian Oil Corporation Ltd. has reduced the price of petrol (with effect from midnight). Petrol is now cheaper by INR 3.00 per litre at Delhi. The change in price is subject to difference in the local taxes that are being levied from different States of the country.
The last reduction in prices of petrol happened on April 16 this year. Back then, Petrol was made cheaper by INR 1.20/litre (including VAT) at Delhi.
The latest price cut is the result of petrol prices seeing a reduction from $ 116/bbl earlier to $107/bbl.