Petrol price likely to be cut on Independence Day Kashmir 24x7 - TopicsExpress

Petrol price likely to be cut on Independence Day Kashmir 24x7 NEW DELHI : Petrol price is likely to be cut on Friday on the back of softening in international rates, Indian Oil Corp, the nations largest fuel retailer, indicated today. Petrol is a decontrolled product and prices increase or decrease depending on input cost every fortnight. We had cut rates on August 1 and will be reviewing prices on August 15, IOCBSE 1.58 % Chairman B Ashok said. State retailers revise petrol price on 1st and 16th of every month based on average international oil price and rupee-dollar exchange rate in the previous fortnight. There are some positive indications, he said when asked if there is likelihood of a price cut going by the average of oil price and exchange rate so far.

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