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Friday, August 1, 2014

Petrol price cut by Rs 1.09 per litre, diesel hiked by 50 paise per litre

New Delhi, 31 July: Oil companies have cut petrol prices by Rs 1.09 per litre with effect from midnight tonight. However, diesel prices have been hiked by 50 paise per litre.
Petrol price was reduced following drop in international oil rates and rupee depreciation against US dollar, making imports cheaper. For the same reason, price of bulk diesel, which unlike the subsidised fuel available at petrol pumps is priced at market rate, has been cut by 72 paise per litre.
Price of bulk diesel, which as per government policy is meant for large consumers like state road transport corporations, railways and defence, was last revised on July 16 when rates were cut by Rs 1.09 to Rs 59.32 per litre.
Besides, rates of non-subsidised LPG cylinders, which household consumers buy after exhausting their quota of 12 subsidised bottles, has been reduced by Rs 2.50 per 14.2-kg cylinder.
Petrol price was last cut by 70 paise on April 16 in line with declining trend in the international market.
This reduction was excluding local levies and after including local sales tax or VAT.

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