Petrol, diesel prices slashed; no change in gas rates

There is good news for fuel users with state-run oil companies cutting petrol price by Rs 2.41 a litre to Rs 64.24 in Delhi, while diesel will be cheaper by Rs 2.25 a litre at Rs 53.35 following a fall in global crude prices.

While the refiners have passed on the benefit of lower crude prices effective Friday midnight, the government has also stepped in to cushion households from the impact of an increase in gas prices. Indraprastha Gas, which supplies piped cooking gas and compressed natural gas (CNG), has decided against increasing prices despite the rate of natural gas rising from $4.2 a unit to $5.6 a unit from Saturday. The impact of the higher gas price is being absorbed by IGL, said sources.