Petrol prices slashed by Rs 3 per litre, effective midnight
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Oil companies on Tuesday reduced the price of petrol by Rs. 3 per litre effective midnight, without taxes, after international prices cooled.
Oil firms review the price of petrol every two weeks. While petrol price has been deregulated since June 2010 and the price is market determined, the government still controls the price of diesel, and allows only minor revisions.
After Wednesday's revision, prices stand as follows:
New Delhi - Rs.63.09 per litre;
Mumbai - Rs. 69.73;
Chennai - Rs. 65.90;
Kolkata - Rs.70.35.
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