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Saturday, December 6, 2008

Petrol Price cut in Chennai

In wake of falling crude oil price in the International markets, Govt. of India decided to reduce petrol and diesel prices in India by Rs.5.00 and Rs.2.00 per litre respectively. This is with effect from 00:00 hrs on 6th Dec 2008 (Midnight of 5th Dec).

While the premium petrol prices have been already reduced by petrol bunks in Chennai, after this announcement regular Petrol and Diesel are selling at 49.66 and 34.98 respectively.

It is stated by the authorities that it is only an interim measure, as the crude price faces high volatality in the markets. However the households are left with no news regarding LPG cylinder price. It is expected to get price cuts for LPG cylinders only in the next round of review of petroleum prices depending on the crude oil price movements in future.

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