Petrol price cut by Rs 3.05 per litre, diesel hiked by 50 paise

oilIn a good news for the people, petrol price has been cut by Rs 3.05 per litre, the first reduction in rates in over five months and the steepest in over five years.
However, diesel price has been hiked by 50 paise per litre. The price changes announced by oil companies are excluding local sales tax or VAT with effect from midnight on Monday. Earlier, petrol price was hiked by Rs 1.63 more per litre, excluding state taxes on September 13.