As global Oil Prices hit a Five and Half Year Slump,Indian Oil Cos. effected price cuts for -
ATF prices were reduced by 12.5% which is the 6th consecutive reduction since Aug 2014 with the last cut announced on Dec01,2014 when prices were reduced by 4.1%
Note
Prices of Global Benchmark Brent Crude which fell 49% during 2014 hit $53 on Wednesday Dec 31,2014 with demand continuing to weaken amid a supply glut owing to US Shale Boom and OPEC refusing to cut production
- Aviation Turbine Fuel(ATF) and
- Non Subsidised LPG
ATF prices were reduced by 12.5% which is the 6th consecutive reduction since Aug 2014 with the last cut announced on Dec01,2014 when prices were reduced by 4.1%
Note
Prices of Global Benchmark Brent Crude which fell 49% during 2014 hit $53 on Wednesday Dec 31,2014 with demand continuing to weaken amid a supply glut owing to US Shale Boom and OPEC refusing to cut production
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