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Posted on Nov 15, 07:34PM | UNI
Oil Marketing Companies (OMCs) have effected a downward revision in the price of petrol ranging from 95 paise to Rs 1.25 a litre from midnight tonight, company sources said.
International prices were relatively stable but there had been volatility in the exchange rate of Rupee with the US dollar, the sources explained.
OMCs incurred a burden of over Rs 2,000 crore on the sale of petrol between April-September due to inability to change the selling price at the retail level.
Petrol after the revision will cost Rs 67.24 a litre in Delhi, Rs 73.53 a litre in Mumbai, Rs 74.55 a litre in Kolkata and Rs 70.57 a litre in Chennai.
Petrol will cost Rs 1.25 less in Hyderabad and Bangalore where each litre will cost Rs 73.73 and Rs 75.47 respectively, the sources said.