Retail gasoline prices in New Delhi, Rs 67.90 a liter, about 0.8 percent will be lower than the current 68.46 per liter.
Partially convertible rupee closed at 52.64/65 per dollar, while Brent crude oil traded at 111.26 dollars a barrel at 1245 GMT.
"The international oil market and the rupee - dollar exchange rate and will closely monitor the future trends will be reflected in the price changes," the IOC said in a statement.
Currently, the rupee - dollar exchange rate has shown an appreciation trend. The IOC said that international oil prices, however, casting shadow on gasoline prices continue to persist, adding there is significant volatility in international oil prices and the exchange rate was.
The IOC said the international oil market and closely monitor trends in exchange rate and price changes will be reflected in future.
Despite the freedom of pricing, gasoline prices have not moved in tandem with the cost. IOC, BPCL and HPCL lost Rs. "In line with market conditions, the desired extent due to the inability to change the retail price," said April - September 2600 crores during the on petrol.
Since it is a deregulated commodity, for the loss on petrol are to be absorbed by the oil companies.
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