IOC slashes prices of branded petrol, diesel

Bareilly, Nov 25 (UNI) Following a fall in global crude oil prices, state-run Indian Oil Corporation (IOC) today announced to reduce the prices of its branded petrol and diesel by Re one and 25 paise respectively with effect from tomorrow.

IOC Chief Manager Subodh Kumar said the corportaion's branded petrol and diesel would cost Re one and 25 paise cheaper to the people from November 26.

The issue, which had become a topic of argument since the reduction of crude oil costs from 147 dollar per barrel to 50 dollar per barrel abroad, has now taken a new twist with the IOC's decision.

The Petroleum Ministry was still to slash the fuel prices in the country, which were hiked when the global crude oil prices have spiked to about 147 dollar a barrel.

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