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StaffCorner

30 Sep, 2013 07:38 PM

Petrol price cut by Rs. 3.05 a litre

Petrol price cut by Rs. 3.05 a litre The Petrol prices has been reduced by Rs. 3.05 a litre. The government on Monday slashed the price of petrol by Rs. 3.05 per litre, while increasing the price of diesel by 50 paise, effective from midnight.

Oil Minister M Veerappa Moily had recently hinted at a cut in petrol prices on interntaion crude prices softening. "Any advantage of price (reduction in international rates) and rupee (appreciation against US dollar) will be passed on to consumers... consumer will get full advantage," Moily said, pointing out that petrol is priced according to market dynamics.

Oil companies have however been lobbying for a steeper hike in diesel prices.



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