Petrol prices reduced by 95 paise per litre

Petrol price was on Thursday cut by 95 paise per litre, the second reduction in rates since October, on account of fall in international oil prices. Petrol in Delhi would cost Rs67.24 a litre from midnight tonight, down 95 paise from Rs68.19 a litre. Prices vary from city to city due to differential local sales tax or VAT rates. The last reduction in petrol price before this was the 56-paise cut to Rs 67.90 a litre on October 9. Thereafter, the rate was hiked by 29 paise following government decision to raise the commission paid to petrol pump dealers.  “Presently, the international oil prices are relatively stable,” a statement by Indian Oil Corp, the nation’s largest fuel retailer, said.