Petrol Prices were cut on Tuesday by Rs 1 a liter however the first lessening in diesel rates in five years will need to hold up till finishing of Assembly elections.
A statement of Indian Oil Corporation says oil firms, which cut the petrol cost by Rs.0.54 on 1 October, reduced rates rates by another Rs 1 for every liter, with effect from midnight.
Indian Oil Corporation also said “Since the last price change, global petrol costs have kept on showing a descending pattern. Nonetheless, the rupee-dollar conversion scale has depreciated. Regardless of the devaluation, the fall in universal oil costs warrant a decline in offering cost of petrol in the local business.”
