Petrol price was today reduced by 75 paise paise per litre, while that of diesel was kept unchanged.The cut, effective midnight, excludes local sales tax or VAT. The actual increase will be higher and will vary from city to city.
Fuel prices were last revised on February 28, when petrol was made costlier by 60 paise a litre and diesel by 50 paise per litre.
With this cut, the price of petrol has been revised three times so far this year.
While petrol prices are market determined, the price of diesel is regulated by the government, which allows minor revisions each month.
The rupee, which plays an important role in determining fuel prices, breached the 60-per-dollar mark for the first time in eight months last Friday.
Fuel prices were last revised on February 28, when petrol was made costlier by 60 paise a litre and diesel by 50 paise per litre.
With this cut, the price of petrol has been revised three times so far this year.
While petrol prices are market determined, the price of diesel is regulated by the government, which allows minor revisions each month.
The rupee, which plays an important role in determining fuel prices, breached the 60-per-dollar mark for the first time in eight months last Friday.