Press Launch on MS Prices in India
04/05/2013

Oil Prices of petrol were reduced by Rs.2.00/litre (excl VAT) w.e.f Sixteenth March'13. Since last cost modify the Worldwide costs of petrol have gone down from USD 122.74/ bbl to USD 119.23/ bbl.

Online PR News – 05-April-2013 – New Delhi – Native indian Oil Organization Ltd. has made the choice to decrease the retail store costs of Fuel w.e.f late night of 1st/ 2nd April'13 by Rs. 0.85/ liter (excluding VAT).

Oil Prices of petrol were reduced by Rs.2.00/litre (excl VAT) w.e.f Sixteenth March'13. Since last cost modify the Worldwide costs of petrol have gone down from USD 122.74/ bbl to USD 119.23/ bbl. INR-USD return amount has also dropped partially from Rs. 54.40 to Rs. 54.28 during the same interval. Following this, it has been made the choice to successfully transfer the advantage to clients and accordingly the aforesaid decrease in the retail store cost level of Fuel is being impacted. It may be mentioned that the Organization has suffered failures of nearly Rs. 500 Crore (OMCs Rs. 1150 Crore) for selling of petrol in the economical year 2012-13.

In inclusion to failures for selling of petrol, OMCs are struggling under-recovery for selling of HSD (Retail) of Rs. 6.52/litre, SKO (PDS) of Rs.30.49/litre & LPG (Dom) of Rs.434.50/cyl.

The activity in international oil costs and INR-USD return amount is being supervised and choice on upcoming cost changes shall be taken accordingly.

The information of current and improved costs of petrol for cities are given below:

New Delhi Mumbai Chennai Kolkata Hyderabad Bengaluru

Proposed RSP Rs/litre 67.29 74.14 70.34 74.72 73.44 73.94

Current RSP Rs/litre 68.31 75.21 71.42 75.79 74.55 75.05

Decrease Rs/litre (1.02) (1.07) (1.08) (1.07) (1.11) (1.11)

For more details you can click here:-http://www.iocl.com