In another possible relief, price of petrol might go down by Rs 2-3 today. The prices of crude oil have fallen to as low as $96.5 per barrel and this gives a chance to the oil retailers to give a rethink about petrol’s prices. You can also check out the current petrol prices in different cities of India at our community forum thread.
Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) officials have a meeting scheduled for today where they will discuss about this reduction. However, another roadblock is the declining value of Indian Rupee. If the expected price reduction happens, this would be the second cut in this month.
Oil companies have rolled back Rs 2 on June 2 after a massive protest by the politicos and general Junta. Let’s wait to hear anything positive on this front.