Home ECONOMY Petrol, diesel prices cut; Excise on fuels raised

Petrol, diesel prices cut; Excise on fuels raised

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New Delhi, Jan 16:

State-run oil marketing companies Friday cut petrol price by Rs.2.42 a litre and that of diesel by Rs.2.25 per litre.

Fuel Price Hike  Petrol dieselAt the same time, the government Friday raised the excise duty on both petrol and diesel by Rs.2 a litre.

It may be mentioned that the oil firms had skipped cutting rates of the two fuels yesterday despite the plunge in the international oil rates to its lowest in nearly six years.

The prices of petrol and diesel were last cut by Rs 2 per litre on December 15 last year.

The oil companies every fortnight review the prices of petrol and diesel depending on international crude prices. (IANS)