Petrol and diesel prices to fall by Rs 2 effective midnight

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Good times continue to flood in as petrol and diesel prices see yet another price cut. This price cut is a result of slump in international crude oil prices to a five-year low. This price cut will mark eighth reduction in petrol prices since August and fourth in diesel since October. The new rates would be effective from midnight.

With the new rates in effect, a litre of petrol in the national capital will fall from Rs 63.33 to Rs 61.33. A litre of diesel will cost Rs 50.51 from the current Rs 52.51. The price has been cut by Rs 2.09 a litre in Mumbai to Rs 68.86 while diesel has been brought down to Rs 57.91. The cut would have been steeper but the government rose excise duty on petrol by Rs 2.25 and by Re 1 a litre on diesel.

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Post this reduction, petrol price has been cut by Rs 12.27 per litre cumulatively since August. Diesel prices, cumulatively, have been cut by Rs 8.46 a litre since October.

The fears of petrol prices hovering above the Rs 100 mark are far gone and people can take out their vehicles more often than before. So where do you plan to go this weekend? Share your thoughts and ideas with us through comments below.

Stay tuned to Motoroids for more updates from the motoring industry.

With inputs from PTI

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