Petrol becomes cheaper by 50 paise per litre

According to reports, for the oil companied have once again revised the petrol prices across the country and as per the new petrol process, from now the petrol prices across the country would be sold 50piase per litre cheaper than its previous rate.

Petrol becomes cheaper by 50 paise per litre

While this is not the first time in the October moth that the oil companies had announced the cut in the petrol process as in the same moth, on October 1^st and October 15, the oil companies third time in this month have announced that petrol prices would be cut by 50 paisa, though no such cut was announced for the diesel prices and therefore the diesel prices would remain the same.

Sharing more details about the recently announced cut on petrol prices, the officials from Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL), the state-owned fuel manufactures said that every month on 1st and 16^th, they would be revising both the petrol and diesel prices and this would be done keeping in mind the standard imported price and rupee-dollar exchange rate which would be recorded in the prior fortnight.

“The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” the IOC statement added.