NEW DELHI, June 28:
In a relief to inflation-battered common man, petrol price was today cut by Rs 2.46 per litre, the second reduction this month.
Petrol price in Delhi will cost Rs 67.78 per litre with effect from midnight tonight as compared to Rs 70.24 a litre rate now, state-owned oil companies announced today.
The reduction in rates follows Rs 2.02 a litre cut in prices from June 3. The two price cuts have wiped out more than half of the massive Rs 7.54 per litre increase in rates, the biggest in the history, effected last month.
Even after today’s reduction, there exists a scope for cutting rates by a further Re 1 per litre as current revision was done at average international oil rate in the first fortnight of June. Global oil prices have fallen by 8 per cent since then.(PTI)
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