Petrol price cut by Rs 2.41, diesel by Rs 2.25 from midnight

Petrol price hiked by 64 paise; diesel cut by Rs 1.35

New Delhi, Oct 31: Petrol price on Friday was cut by Rs 2.41 a litre, the sixth reduction since August, and diesel by Rs 2.25 per litre on back of falling international oil rates.

According to an agency report, the reduction in rates of petrol and diesel will be effective from midnight tonight, Indian Oil Corp, the nation’s largest fuel retailer, announced.

It may be noted that diesel was recently deregulated for the first time in more than a decade.

After reduction in rates, petrol price has been cut by Rs 2.41 a litre whereas the price of diesel has been slashed by Rs 2.25
per litre.

Earlier in the month of October, price of petrol was reduced by about Rs 2 per litre on two ocassions.

In the same month, the Narendra Modi government deregulated diesel prices which let to a reduction of Rs 3.37 a litre in the fuel price.

(With Agency Inputs)

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