Petrol Price Reduced by Rs 3 - Tuesday April 30,2013

Today's price cut comes after three consecutive rate reductions on the back of falling international oil prices.The price cut announced today is the steepest since December 2008 when rates were slashed by Rs 5 to Rs 45.62 per litre. 

 This is the third reduction in April 2013 -
April 2,2013 - price reduced by 0.85 paise/litre and
April 15,2013 -price reduced by Re 1/litre

This is the third reduction in the petrol rates in the month of April. Petrol price was last cut by Rs 1 per litre on April 15. Earlier petrol rate was slashed by 85 paise a litre on April 2. - See more at: http://post.jagran.com/petrol-price-cut-by-rs-3-per-litre-1367333661#sthash.vYttv26X.dpuf

This is the third reduction in the petrol rates in the month of April. Petrol price was last cut by Rs 1 per litre on April 15. Earlier petrol rate was slashed by 85 paise a litre on April 2. - See more at: http://post.jagran.com/petrol-price-cut-by-rs-3-per-litre-1367333661#sthash.vYttv26X.dpuf

Reasons for the reduction -
Indian Oil Corp(IOC)said since the last price change, international prices have declined from $116.61 per barrel to $107 a barrel.
Rupee-US dollar exchange rate too improved from Rs.54.51 to a US dollar to Rs.54.26.