Petrol prices cut by Rs 1.15 per liter and diesel hiked by Rs 0.50 wef midnight

Petrol price on Thursday was cut by Rs. 1.15 per litre, while diesel rate was hiked by 50 paise a litre, both excluding of local state levies. The revised rates will come into effect from midnight tonight.

This is the second reduction in as many months in petrol prices. On September 30, petrol price was cut by Rs. 3.05 per litre, which was the first reduction in rates in over five months and the steepest in over five years.

Petrol prices have been slashed owing to softening of global oil prices and appreciation of the rupee.

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