Government cuts petrol, diesel prices

The government on Wednesday cut petrol prices by 11 percent and diesel prices by 6 percent, the second cut in state-set prices in as many months. Petrol, currently retailing at 45.62 rupees in New Delhi, will be cheaper by 5 rupees per litre, while diesel, sold at 32.86 rupees, will be cheaper by 2 rupees per litre. Oil Minister Murli Deora said the cuts were effective from midnight.