Petrol, Diesel prices slashed

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New Delhi: The price of petrol was today slashed by Rs 2.42 per litre and that of diesel was reduced by Rs 2.25. This is the tenth cut in the price of petrol since August last, and the sixth in case of diesel since its regulation in October.

Fuel prices were last revised on January 16 when petrol and diesel prices were cut by the same margin in the wake of falling oil prices. In January, the government the government had also hiked excise duty on petrol and diesel by Rs 2 per litre. This was the fourth hike in excise duty since November and cumulatively excise duty on petrol was hiked by Rs 7.75 per litre and diesel by Rs 6.50 a litre.