Please Tell Us Your City

Knowing your city will help us provide relevant content to you.

Sorry! No matching results found. Try again.Error Identifying Your Location.
Ad

Petrol prices set to fall

July 29, 2014, 01:45 PM IST by Selvin Jose
15501 Views
6 comment(s)
Petrol prices set to fall

Finally some good news for the masses and petrol heads alike. There will be a drop in the price of petrol and it could be to the tune of Re 1 per litre. A drop of Re 1 is considerable by what has been the trend of late and since April we haven’t seen such a significant drop. 

"Petrol prices would be reduced by more than Re 1 a litre if international gasoline rates continue to decline in the remaining four days of this month. But, oil companies want to retain about 54 paise before price reduction this time because the government did not allow it to raisepetrol prices on July 15," a person with knowledge of the matter said.

"A final call will be taken after an informal discussion with the government."

The revenue loss for state-run marketers on diesel is expected to come to less than Rs 1.40, taking the fuel closer to deregulation. State-owned BPCL, IOC and HPCL have a freehand when it comes to fixing the prices of petrol since June 2010, but company executives have gone on to say the oil ministry still exercises informal control.

The drop of Re 1 will definitely not provide a major relief to motorists in India, but any price cut is welcome. Although there are speculations about this price cut a lot also depends on the global crude prices.

Source: ET

Image courtesy

  • Maruti Suzuki
  • Celerio
  • Maruti Suzuki Celerio
  • FaceBook Logo
  • Twitter Logo
  • Email Logo
Show CommentsHide Comments
Ad
  • Upcoming Cars

Audi New A6Audi New A6

24th Oct 2019

50L - ₹ 60L
Tata Tiago EVTata Tiago EV

Nov 2019

5L - ₹ 7L
Hyundai Tucson FaceliftHyundai Tucson Facelift

Nov 2019

18L - ₹ 20L
Tata Tigor FaceliftTata Tigor Facelift

Nov 2019

6L - ₹ 7L
Audi Q2Audi Q2

Nov 2019

28L - ₹ 32L
All Upcoming Cars
Ask the experts1800 2090 230Mon-Fri (9 AM - 8 PM)
Sat (9 AM - 5:30 PM)
Sun (9 AM - 7 PM)
Toll free
Ad

Only

  • 00DAYS
  • 00HRS
  • 00MINS
  • 00SEC

Days To Go!

Official Tyre Partner:

Know More

Select your city to avail offers

Currently available only in