Petrol, Diesel prices cut

Petrol price was on Thursday cut by 63 paise per litre and diesel by Rs 1.06 a litre, the third reduction this month on back of softening in global oil rates.
Petrol will cost Rs 59.35 per litre in Delhi with effect from midnight tonight as against Rs 59.68 currently . A litre of diesel will cost Rs 45.03 as opposed to Rs 46.09 presently , said Indian Oil Corp (IOC), the nation's biggest fuel retailer.
Prices were last cut by 50 paise in case of petrol and 46 paise a litre for diesel on December 16. The reduction would have been more but for a government move to mop up gains arising from oil prices slumping to an 11-year low by way of an excise duty hike. Prior to that, oil firms had last cut petrol price by 58 paise a litre and diesel by 25 paise on December 1.

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