Petrol price may be cut by as much as `1-1.50 per litre next week on falling international oil rates and appreciating rupee while a decision on raising diesel and LPG prices is likely in a few weeks.
While petrol price, which are revised on 1st and 16th of every month, looks set to be lowered on September 15/16, the government is mulling `3-5 per litre hike in diesel and `50 per cylinder hike in LPG rates to narrow record deficit.