Petrol prices likely to be slashed by Rs 4/litre

Wednesday, June 27, 2012: In a big relief for consumers, oil companies are likely to slash the price of petrol by Rs 4 per litre from July 1.


The cut comes in view of the falling crude oil prices at the international market on which the prices of petrol are based by the companies.


At present, the average price of international petrol prices is about USD 99 a barrel compared to USD 115 per barrel at the beginning of June when oil companies slashed the prices of petrol by Rs 2.02 per litre.
The cut should indeed come as a big relief post the Rs 7.54/litre hiked, the steepest ever that shocked the country on May 23.