<div>Indian Oil Corp, the country's biggest refiner, will cut petrol prices by a rupee from Tuesday, 2 April 2013, as global prices of the fuel have declined and the rupee has marginally strengthened against the dollar, it said in a statement.<br /><br />India's three state-run fuel retailers - IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp - tend to move their prices together.<br /><br />The government deregulated gasoline prices in June 2010.<br /><br />In January it allowed fuel retailers to raise the price of subsidised diesel by 50 paise a litre every month and asked bulk buyers to pay market rates.<br /><br />(Reuters)</div>
