Petrol rate cut 49p/ltr, diesel by Rs 1.21

Petrol price was today cut by 49 paisa a litre, diesel by Rs 1.21 and jet fuel (ATF) by 2 per cent, but rates of non-subsidised LPG were hiked by Rs 11 per cylinder.

The reduction in petrol and diesel prices, which are effective from midnight tonight, come after two consecutive increases during February and March.

Prices of petrol in Delhi will be Rs 60 a litre from tomorrow as against the current Rs 60.49, while diesel will cost Rs 48.50 per litre from Rs 49.71, said Indian Oil Corp (IOC), the nation’s largest oil company.

Rates of aviation turbine fuel (ATF), or jet fuel, in Delhi was cut by Rs 1,025 per kilolitre, or 2 per cent, to Rs 49,338 per kl. The reduction comes on the back of a steep 8.2 per cent hike in rates effected from March 1.