Govt cuts petrol price by Rs 5, diesel by Rs 2 | business | Hindustan Times
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Govt cuts petrol price by Rs 5, diesel by Rs 2

business Updated: Jan 29, 2009 12:36 IST
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The government on Wednesday further cut the prices of petrol and diesel by Rs 5 per litre and Rs 2 per litre respectively. Cooking gas (LPG) prices have been reduced by Rs 25 a cylinder.

To be effective from Wednesday midnight, petrol will now cost Rs 40.62 per litre in Delhi (down from Rs 45.62) while diesel will cost Rs 30.86 per litre (down from Rs 32.86). An LPG cylinder will cost Rs 279.70 in Delhi (down from Rs 304.70).

International crude prices — currently ruling at four-year lows (of about $40 per barrel) — made it possible for the government to implement a second cut in the domestic fuel prices in less than to month.

On December 5, petrol and diesel prices had been cut by Rs 5 a litre and Rs 2 a litre respectively.

The Cabinet Committee on Political Affairs on Wednesday postponed a decision on freeing petrol and diesel pricing from the government’s control.