Petrol prices slashed by Rs 0.56 per litre

Earlier this month, we had reported that a cut in petrol prices is anticipated on the back of slightly appreciating value of the Indian rupee against the U.S dollar. And thanks to exactly that, the prices of the international crude oil have fallen, which in turn have brought the cost of petrol in India down by Rs 0.56 per litre. The revised prices will be effective from midnight.

Petrol will now cost Rs 67.90 per litre at Indian Oil Corp's (IOC) petrol pumps in New Delhi with effect from midnight as against Rs 68.46 a litre. Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL), the other two state fuel retailers are expected to follow suit in cutting rates but price at their pumps would vary by one or two paise.

The cost of petrol was last revised on June 24 when they were hiked by 70 paise.

Effective from midnight, this is how the petrol price across the metro's will look like:

Delhi: Rs. 67.90 per litre

Kolkata: Rs. 75.44 per litre

Mumbai: Rs. 74.43 per litre

Chennai: Rs. 71.48 per litre