Petrol prices slashed in the country
Oil companies have cut petrol prices in the country by Rs1.85 per litre(excluding taxes), the first reduction in three years as well as since pricing controls ended 18 months ago. The cut in prices comes after the government faced criticism when state firms -- Indian Oil Corp, Bharat Petroleum (BPCL) and Hindustan Petroleum -- raised gasoline prices earlier this month, the sixth major rise since June 2010.
The decision will bring cheer to the public that witnessed 13 price hikes in the past one year. After adjusting the state taxes, petrol will be cheaper by Rs2.22 per litre in Delhi. In Mumbai, the reduction will be Rs2.34 per litre while in Kolkata and Chennai it will be Rs2.31 and Rs2.35 per litre respectively.