Petrol Prices Cut By Rs 1.85/Litre

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>State-run oil refiners will cut petrol prices by 3.2 per cent from Wednesday, a company source said, the first cut in nearly three years as the government comes under political pressure from its allies ahead of several state elections.<br><br>Government control over petrol pricing was lifted 18 months ago. But, in reality, state-run oil retailers seek an unofficial nod from the government before changing prices.<br><br>"Basic price has been cut by Rs 1.85/litre (over 3 cents) and add a 20 per cent value added tax in delhi. It should be about Rs 2.22 a litre," the source told Reuters.<br><br>A litre of petrol in Delhi will now cost Rs 66.42.<br><br>Earlier this month, state oil retailers -- Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp - raised petrol prices by Rs 1.80 a litre including taxes in Delhi.<br><br>The reduction in Mumbai was Rs 2.34 per liter while in Kolkata it was Rs 2.31 a litre. The price cut in Chennai was Rs 2.35 per litre.<br><br>(Agencies)</p>