Petrol and Diesel price further slashed

03 Feb, New Delhi (odibizinfo)

The Oil Marketing Companies Tuesday further slashed petrol price by Rs 2.42 per litre and diesel by Rs 2.25 per litre. The new rates will come into effect from midnight tonight.
This is the tenth cut in the price of petrol since August last, and the sixth in case of diesel since its deregulation in October.

Fuel prices were last revised on January 16 when petrol and diesel prices were cut by the same margin in the wake of falling oil prices. In January, the government the government had also hiked excise duty on petrol and diesel by Rs 2 per litre.
This was the fourth hike in excise duty since November and cumulatively excise duty on petrol was hiked by Rs 7.75 per litre and diesel by Rs 6.50 a litre.