Petrol, diesel prices cut
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Petrol price was on Thursday cut by 63 paise a litre and diesel by Rs 1.06 a litre, the third reduction this month on the back of softening in global oil rates.
Petrol will now cost Rs. 59.35 a litre in Delhi with effect from midnight on Wednesday, as against Rs. 59.98 currently. A litre of diesel will cost Rs. 45.03 as opposed to Rs 46.09 presently, said Indian Oil Corporation (IOC).
Prices were last cut by 50 paise in the case of petrol and 46 paise in the case of diesel on December 16.
The reduction would have been more but for government move to mop up gains arising from oil prices slumping to 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 a litre on December 1.
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