Odisha News Insight

Petrol, Diesel Prices cut by Rs. 2 per Litre from Today

petrol diesel priceState owned oil marketing companies have cut petrol and diesel prices by Rs.2 a liter due to sharp fall in the international crude price to a five year low.

The cut would be effective from midnight of Monday. After cut in the price in effect, the petrol price would touch to a low of 45 moths and diesel to 17 months low.

Since the deregulation, the price of petrol has been cut for eight consecutive times since August 2014 and four times cut in diesel since 18 October 2014. However, the cut in the petrol and diesel price will differ from state to state following the variation in sales tax and VAT.

In Delhi, the price of Petrol after cut would be Rs.61.33 and the diesel would be Rs. 50.51. In Mumbai, the petrol would cost after cut at Rs. 68.86 and diesel at Rs.57.91

The rate cut would have been steeper but the government decides to may hay out the crude oil rate slump to $62.37 per barrel by raising excise duty on petrol by 2.25 and Rs.1 a liter on diesel.

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