Petrol and diesel prices see yet another cut, excise hike dilutes effects

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The fall in global crude oil value continue to have a positive effect as petrol and diesel prices continue to slump. Petrol and diesel prices witnessed yet another cut of Rs 2.42 and Rs 2.25 per litre respectively. The fall in prices would have been almost double but the government raised the excise duty by Rs 2 per litre on both petrol and diesel on Friday. Global crude oil prices witnessed a fall of nearly 50% since June last year.

This price cut will mark ninth reduction in petrol prices since August and fifth in diesel since October. Earlier last month, prices of petrol and diesel witnessed a fall of Rs 2 per litre.

So if you were planning a road trip on the upcoming long weekend, the deal the just got sweeter. Stay tuned to Motoroids for more updates from the automotive industry.

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