Petrol, Diesel Prices Slashed

Here is a good news for people who are reeling under the pressure of rising inflation rate. After a series of bad news about home loan, car loan and increase in prices of the commodities, the common people got a huge relief when the Petroleum Minister Murli Deora announced to cut the petrol and diesel prices by Rs 2 and Re 1 per litre respectively. The reduction would be effective from midnight tonight. The retail price of petrol in Delhi would be Rs 42.85 a litre and diesel Rs 30.25 a litre.

The decision was taken after the Petroleum Minister met the Prime Minister Manmohan Singh and the Finance Minister in a meeting. The Finance Ministry will make duty adjustments including a cut in excise rates so that the oil companies do not face the heat following the price reduction.