While petrol prices have been slashed by 21 paise, diesel rates have been brought down by 11 paise.
With the latest revision, petrol is being retailed at Rs 82.62 in Delhi, Rs 88.08 in Mumbai, Rs 84.44 in Kolkata and Rs 85.88 in Chennai.
Diesel in Delhi, Mumbai, Kolkata and Chennai is priced at Rs 75.58, Rs 79.24, Rs 77.43 and Rs 79.93, respectively.
This is the first cut in petrol and diesel rates after October 5, when the Centre and many state governments had announced a cut in taxes.
On Centre's part, Finance Minister Arun Jaitley had announced a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre.
Among the states to announce a cut in taxes were Gujarat, Chhattisgarh, Bihar, Uttar Pradesh, Tripura, Jammu and Kashmir, Himachal Pradesh, Meghalaya, Assam, Jharkhand and Goa.
However, the relief didn't last long as fuel prices continued to climb and reached the previous level in a few days.
 "Photo: istock")