Petrol price: Another cut in the offing?

With global crude prices at an eight-month low, petrol prices are expected to be cut again. Reports said that the price cut could range between Rs 1.5 to Rs 2 a litre.

On Tuesday, benchmark oil was hovering around $100 a barrel.

Oil has plunged about 24 per cent since early last month amid signs of slowing economic growth in the US, China and Europe.

Earlier, Finance Minister Pranab Mukherjee had earlier also said that petrol prices are expected to come down crude prices declining in the international market.
 
Domestic oil companies had recently cut petrol prices by Rs 2 per litre after hiking it by Rs 7.54 a litre earlier.