Petrol Price cut by 49 Paise per Litre, Diesel by Rs 1.21

Petrol price has been cut by 49 paise per litre while the diesel price has slashed by one rupee 21 paise per litre including State levies, due to a decrease of crude oil price in international market.

In a statement, Indian Oil Corporation said that the new rates will come into effect from midnight of April 1-2.The prices of patrol and Diesel in entire country will be revised according to the state taxes.

The prices of Petrol and diesel were last revised on March 1st. Petrol and diesel prices in India are deregulated and linked to market rates.