State-run Indian Oil Corp (IOC) has reduced petrol prices by Rs 1.20 per litre from April 16, 2013, as global prices of the fuel have declined. Before this price reduction, the company had also reduced prices of petrol by Rs 1.02 per litre on April 3rd.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.