Price Reduced of petrol by Rs 2.42 a litre and diesel by Rs 2.25

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Fuel retailers of State on Friday reduced the price of petrol by Rs 2.42 per litre and diesel by Rs 2.25 a litre.

This is the 9th reduction in petrol price since August and the fifth in diesel price since October.

In Delhi State, petrol cost will be Rs. 58.91 a litre, down from Rs 61.33 a litre and diesel cost will be Rs. 48.26 a litre, as against Rs 50.51 currently.

On Thursday evening, the scheduled day for fortnightly review, the fuel retailers had deferred announcing the price revisions as the government was reportedly debating the move to raise excise.

With Friday’s reduction, petrol price has been cut by Rs 14.69 a litre since August, while diesel rate in five downward revisions has been slashed by Rs 10.71 a litre.

A finance ministry notification said the excise duty on unbranded petrol was being hiked to Rs 8.95 per litre and that on unbranded diesel to Rs 7.96 per litre.

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