Petrol price was on Friday cut by Rs 2 per litre with effect from midnight,the steepest reduction in rates in nine months.
While petrol price has been cut by Rs 2 per litre,excluding local sales tax or VAT,there will be no change in diesel rates.
After including VAT,the reduction in price of petrol in Delhi comes to Rs 2.40 per litre and the fuel will from midnight on Friday cost Rs 68.34 per litre as against Rs 70.74 currently.
It was expected that oil firms will also effect the monthly hike of 40-50 paise per litre in diesel rates but they deferred the decision apparently to save the government from trouble in Parliament. When oil firms had last hiked petrol price on March 2,the Opposition parties had disrupted one full days proceedings.
The cut in petrol price follows two rounds of hike in rates since February.
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