From The Desk of Mody Economist.. Petrol price cut by Rs 1.82 - TopicsExpress

From The Desk of Mody Economist.. Petrol price cut by Rs 1.82 per litre, starting tonite. This is 3rd time in Aug 2014 that rates have dropped, making the total petrol price reduction - Rs.10.09 /lt . The reason is simple, which an ECONOMIST MMS couldnt do but a Chaiwala did - Cut fuel import from Saudi Arabia by 6% and increased import from Iran . The calculation - forex is saved, as saudi accepts payment in USD only, whereas Iran accepts payment in importing nation currency, resulting in lowering Indias basket price Super news..

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