Petrol, Diesel prices reduced by Rs 2.50, says FM Arun Jaitley

ONI Bureau:  Finance Minister Arun Jaitley on Thursday announced a Rs 2.50 cut in price of diesel and petrol per litre in India.

The Union Government writes to all State Governments that as the Centre is cutting Rs 2.50 on both petrol & diesel, they do the same accordingly.

The Minister said the Centre would reduce the excise duty by Rs.1.50 & oil marketing companies (OMCs) will absorb 1 rupee. So, a total of Rs.2.50 will be reduced on both diesel and petrol.