Diesel up by 50 paise, Petrol cheaper by Rs. 1.82/liter
August 30, 2014
New Delhi, 30 August 2014
The Government of India has hiked diesel price by 50 paise a liter while petrol price has been cut by Rs. 1.82 liter with effect from midnight today. This is second cut in petrol prices in this month.
The decision by the government comes at a time when the global crude oil prices are cooling. The prices of petrol were deregulated during the erstwhile Congress led UPA-2 regime.
Meanwhile it is assumed that the big cut in petrol prices may also cool of inflation in the Indian economy upto some extent. The price cut will also marginalise the gap between petrol and diesel prices which may leave a positive impact on the petrol car market.
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