Petrol prices to be cut by Rs.2.46 per litre

India’s oil marketing companies have decided to reduce petrol prices by Rs.2.46 per litre from midnight, it was announced here Thursday.

"The downward revision shall vary from Rs.2.46 per litre to Rs.3.22 per litre including state levies depending upon the state taxes," Indian Oil Corporation (IOC) said in a statement on behalf of the state-owned oil marketing companies.

In Delhi, the price decrease will be Rs.2.46 per litre.

The decrease in other states will vary depending upon the respective rates of state VAT or sales tax.

In Delhi, the revised price would be Rs.67.78, in Mumbai it will be Rs.73.35 while in Chennai it would be Rs.72.27.

The revised prices in Kolkata, Hyderabad and Bengaluru will be Rs.72.74, Rs.74.89 and Rs.76.39 respectively.