NEW DELHI, November 28 (AGENCIES): The state refiners could cut petrol prices by about one rupee a litre or 1.5 percent as softening Singapore spot gasoline prices have offset the impact of a declining rupee, an industry source said on Monday. The companies cut petrol prices by about 3.2 percent earlier this month, the first reduction in retail prices in nearly three years and the first since prices were decontrolled in June 2010. “As per current calculations, there is scope to cut the basic price of petrol by about 0.85 rupees a litre, including taxes it should be about one rupee. We have to see price movements in the next two days also before deciding the final impact,” the official said on condition of anonymity.
