Jun 28, 2012

IOC cuts petrol prices from midnight

State-run Indian Oil Corp. has cut petrol prices by between 2.46-3.22 rupees a litre, a company statement said on Thursday, the second straight cut in a month.

The new prices will come into effect from midnight, it added.

Traders had been expecting a cut this month after petrol prices were raised by a record 11 percent in May.

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