A litre of petrol in the US, on converting the US gallon into litre and dollars into rupees, costs Rs 86.97. That's cheaper than the prices at which petrol has been sold in India for months.
Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) will watch the evolving situation internationally for a couple of more days before revising rates.