The government on Friday slashed the rate of petrol and diesel by Rs 2.42 per litre and Rs 2.25 per litre respectively. The new rates will be effective from midnight.
According to reports, the fuel prices were cut following international oil prices slumping to nearly six-year lows.
This is the ninth straight reduction in petrol and diesel prices since August 2014. The last cut took place in December, when the rates had also been slashed by around Rs 2 per litre.
