New Delhi: State-run oil marketing companies may reduce the price of ptetrol by Rs 1.50 within a day or two, sources said today.
The drop in the price of crude in international market has enabled the OMCs to pass on the benefit to consumers, sources said.
With the Indian Rupee slightly firming up against the US dollar, imported crude prices are now slightly cheaper.
On January 1, the international price of crude was $ 108 a barrel which has now dropped to $103.
On January 3, the oil marketing companies had hiked the price of petrol by Rs 2.25 a litre.
