It’s not only the automakers who shredding the prices of their vehicles during the festive season. Chairman of Indian Oil Corporation, R. S Butola hinted at a possible price reduction of petrol in the coming few days. This can be regarded as good news as most of the time, people are used to a price hike rather than reduction.
He said that petrol is bench marked according to the gasoline prices and in recent times there had been some reduction in the gasoline prices that has given oil companies some margin on Petrol. Also rupee has advanced against dollar. So, some considerations on reduction of petrol prices can be done.