Petrol prices slashed by Rs.1.85/litre

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Finally petrol prices slashed, effective from midnight

As per IBN-live, State run Oil companies slashed prices of deregulated Petrol by Rs.1.85/litre.

CNN-IBN live

But as per Times of India website,

TNN | Nov 15, 2011, 06.16PM IST

NEW DELHI: After several hikes in the petrol prices, there is finally some relief for the consumers.

According to TV reports, the price of petrol will be slashed by Rs 2.25 per litre.

Source: Times of India

The reduced price will come into effect from midnight.

@mods: This news deserves a new separate thread.

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In my opinion, Its the best time for the Private Oil companies to jump into the Market with Storming strategies.

It can really make competitive environment & can make these Govt. owned Subsidiaries to come to their knees for better Price execution.

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Anyway petrol companies have been freed from govt. control in 2010, and they can increase/decrease the prices whenever they feel like. So introduction of more private companies won't be making much of a difference in the price.

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When my fuel gauge was reading 115 kms to empty they raised the price by 1.85/lit and I didn't bother to fill up as these rises have become too frequent, by the time my petrol gauge read 70 kms to empty they reduced it by 2.34/lit so went to the fuel pump filled tank and redeemed 1700 turbo points and felt happy about it. smiley4.gif

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