The Union Government on Friday announced a reduction in the price of petrol, with the cost of one litre dropping by Rs. 2.41, while the diesel price has been reduced by Rs. 2.25 per litre. The new rates will be effective from October 31 midnight.
According to reports, the reduction in petrol price is attributed to the downward trend seen in international petrol prices.
This is the third reduction in the price on petrol since the new government has come to power at the Centre. In September, the petrol price was slashed by Rs. 0.65 per litre and the diesel price was kept unchanged, while in August, petrol prices were cut by Rs 1.82 per litre and diesel prices were hiked by 50 paise per litre.
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