Petrol price slashed, diesel hiked

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New Delhi, Sept 30:In a recent move by the oil ministry, petrol prices have been slashed by Rs 3.05 per litre, while diesel price has witnessed a hike of 50 paise. The new pricing would be effective from midnight.

The hike, however, is excluding the local sales tax and VAT (value added taxes). Oil minister M Veerappa Moily had recently hinted at a price cut in petrol on the softening of international crude prices. Oil companies, however, have been lobbying for steeper oil price hike.

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