Petrol prices have been cut by 95 paise a litre effective midnight. The 95 paise price cut is exclusive of taxes.
IOC, last week, while declaring quarterly results had indicated it had some margin to cut prices but wanted to first wait for the rupee to stabalise. IOC says the three oil marketing companies have lost over Rs 2000 cr since April 2012 on petrol sales. The company added that under recoveries on diesel, LPG and kerosene are expected to cross Rs 1.6 lakh crore this fiscal.
Following are the revised petrol prices in four metros after oil companies announced a cut in rates. New prices are effective from midnight tonight.
| Current Price | Revised Price | Decrease | |
| 68.19 | 67.24 | 0.95 | |
| Kolkata | 75.74 | 74.55 | 1.19 |
| Mumbai | 74.73 | 73.53 | 1.20 |
| Chennai | 71.77 | 70.57 | 0.20 |
(All rates in Rs/litre)
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