Petrol, diesel prices cut

State-run fuel retailers have ushered in some early Christmas cheer for consumers by slashing petrol and diesel prices Rs.2 a litre each, including local taxes in Delhi, as international oil prices slumped to five-year low.
The reduction would vary marginally in states according to the prevalent tax rates. The revised prices would come into effect from intervening midnight of Monday and Tuesday. This is the eighth reduction in petrol prices since August and fourth in diesel rates since the fuel was deregulated on October 18.
In Delhi, petrol would cost Rs.61.33 a litre, the lowest in 44 months. In Mumbai, the new price would be Rs.68.86.
Diesel would cost Rs.50.51 a litre in Delhi, the lowest since July 2013. In Mumbai, it would cost Rs. 57.91 per litre.
Cumulatively , petrol price has been cut by Rs.12.27 per litre since August. Similarly , diesel price has been reduced by an aggregate Rs.8.46 a litre since October. Fuel prices were last revised downwards on December 1 by 91 paisa a litre and 84 paisa per litre for petrol and diesel, respectively , including state levies at Delhi on the back of declining international oil prices.

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