Petrol Prices have been cut by Rs 3.05 per litre (excluding the VAT) making it a steepest decrease in last 5 years.
The new rate came into effect from last midnight. Now for petrol, consumers will have to pay 72 rupees and 40 paise per litre in Delhi, 79 rupees and 51 paise in Kolkata, 79 rupees and 49 paise in Mumbai and 75 rupees and 68 paise in Chennai. In Patna the Petrol would cost Rs 78.92 per Litre.
The Diesel price has been increased by 50 Paisa ex. VAT.  Diesel will cost 52 rupees and 54 paisa per litre in Delhi, 56 rupees and 90 paise in Kolkata, 59 rupees and 46 paise in Mumbai and 56 rupees and 1 paise in Chennai. In Patna, Diesel would cost Rs. 56.14 per litre.
Oil firms have also raised the rates of non-subsidized domestic cooking gas (LPG) that households buy after exhausting their quota of 9 subsidised cylinders. The revised rate in Delhi will be 1004 rupees per 14.2-kg cylinder. Where as it will cost 1035. 50 rupees in Kolkata, 1021 rupees in Mumbai and 998.50 rupees in Chennai.
Since June petrol prices have been raised seven times, totalling Rs 10.80 per litre, excluding VAT (Rs 13.06 after including state tax) as the rupee depreciated sharply against the rupee.
Oil companies have said that they are still losing Rs 10.52/litre on diesel despite a hike of 50 paise/litre. Last fortnight they were witnessing loss of Rs 14.50 per litre, but appreciating rupee against dollar improved the situation .