New Delhi, April 15: With a steep fall in international oil prices, petrol prices on Wednesday were cut by 80 paise a litre, diesel by Rs 1.30 per litre.
The reduction in rates will be effective from midnight tonight. Petrol in Delhi will now be available at Rs 59.20 a litre from Thursday as against the current Rs 60 per litre.
This is second reduction in oil prices within a fortnight.
Earlier on April 1, petrol price was cut by 49 paise per litre and diesel by Rs.1.21 a litre.
The April 1reduction follows two rounds of price hikes in February and March - first by Rs 0.82 a litre in petrol and Rs 0.61 per litre in diesel on February 16 and by Rs 3.18 per litre in petrol and Rs 3.09 a litre in diesel on March 1.
Prior to these increases, petrol price had been cut on ten occasions since August 2014 and diesel six times since October 2014.
Cumulatively, petrol prices had been cut by Rs 17.11 per litre in ten reductions since August and diesel by Rs 12.96 a litre since its deregulation in October. This trend was reversed when rates were raised on February 16.