Mumbaikars will have to now shell out Rs 73.33 per litre — a Rs 3.10 per litre cut. Indian Oil, Bharat Petroleum and Hindustan Petroleum, as a practice, were to revise the petrol price from June 15 but put off the decision by a couple of days. Yesterday, they decided to implement the cut from midnight.
Oil firms had last cut petrol rates by Rs 2.02 a litre with effect from June 3 in a partial rollback of the steep Rs 7.54 per litre hike effected last month. Sources said that the last revision was done keeping in mind an average of $115.77 per barrel rate of petrol, against which domestic petrol prices are benchmarked. Gasoline rates have since fallen to $106.93 per barrel. But the rupee has devalued to Rs 55.69 to a US dollar from Rs 54.96.
Umesh Yadav's birthday: Indian cricketers and their tales of struggle
Photos: WWE star Sheamus and John Abraham clash in Mumbai
Photos: Raveena Tandon, husband Anil Thadani's dinner date in Bandra
Photos: Kareena Kapoor Khan spotted at Mumbai airport
Photos: Aamir Khan with brother Faisal, ex-wife Reena Dutta at MAMI