Petrol and diesel price cut amounting to INR 2.41 per liter and 2.25 per liter respectively has been implemented from 31 October 2014 in India. The prices will vary state to to state. The reduction could have been higher but the increase in petrol pump dealers commission has been increased by 10 – 15 paise.
The government deregulated diesel prices from its control in October this year, giving them freedom to adjust rates in accordance to market cost. since August petrol pricves have been cut by INR 9.36 per liter. Petrol will now cost INR 64.25 per liter as against INR 66.65 per liter in Delhi. Diesel is now priced at INR 53.35 per liter as against INR 55.60 per liter presently. Prices in different cities may be different depending on the taxes applied in each state.
In Mumbai, the rate will be cut by INR 2.55 a litre to Rs 71.91 for petrol and diesel by INR 2.50 per liter to INR 61.04 per liter. The reduction in prices of diesel and petrol is credited to falling international oil rates.
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