Petrol to cost Rs 34.17 in Bangalore

BANGALORE: Petrol in Bangalore will cost 51 paise less and diesel 61 paise less from Saturday midnight.
According to Bhushan Narang, President of Bangalore Petroleum Dealers Association, the new price of petrol in the city will be 34.17 and of diesel will be Rs 20.61.
Officials of Indian Oil Corporation, IBP, Bharat Petroleum and Hindustan Petroleum met on Saturday to match retail price of motor spirit and high speed diesel with import parity price.As per the mechanism evolved after dismantling of APM this fiscal, oil companies are to fix consumer retail price for petrol and diesel on the 1st and 16th of every month based on the average procurement cost of crude during the fortnight.