Petrol prices to be slashed by Rs 3 effective midnight

Alan D'Cruz Updated: May 09, 2013, 04:12 PM IST

The governement seems to be going down the right path in terms of invigorating the automotive sector. Just in we have news that petrol prices have been slashed by Rs 3, effective midnight. This is the fourth price cut in the last two months bringing petrol prices down significantly.

As it stands petrol was previously available for Rs 66.09 in Delhi, Rs 73.48 in Calcutta, Rs 72.88 in Mumbai and Rs 69.08 in Chennai. The new rates are now Rs 63.09 in Delhi, Rs 70.48 in Calcutta, Rs 69.88 in Mumbai and Rs 66.08 in Chennai.

In comparison diesel in the same cities is priced at Rs 48.63 in Delhi, Rs 52.86 in Calcutta, Rs 54.87 in Mumbai and Rs 51.78 in Chennai.

What this means is a big boost to consumers looking to invest in petrol cars, and one of the biggest gainers in this segment could very well be Honda. They currently sell the Brio, City, the Accord and the CR-V only with petrol engines and the price cut should only make each of these vehicles more attractive. We spoke to Jnaneswar Sen, Senior Vice-President, Sales & Marketing, for Honda Siel who said "Its a win-win situation for Honda and if it is followed by an interest rate cut, the industry will definitely grow. The City, being a leader in the premium segment, will get a further boost."

But it's not just the Honda City that will receive a boost, several other manufacturers such as Toyota, Maruti, Hyundai, General Motors and Ford will see the benefits of the fuel price cut. Ford especially will stand to gain a lot, since the upcoming EcoSport comes equipped with the headline-grabbing 1.0-litre turbocharged petrol Ecoboost engine. OVERDRIVE will drive the EcoSport on the 7th of May 2013, following which we will have a full drive report on the SUV.

Petrol prices | Infographics

Price (Ex-Delhi)
Starts Rs 10.9 Lakhs
Max Power(ps)
Max Torque(Nm)
17.8 Kmpl