Petrol prices slashed by Rs. 1.85 across India

After several hikes in the petrol prices, there is finally some relief. The oil companies on Tuesday slashed the petrol prices by Rs 2.25 per litre in New Delhi and by Rs 1.85 litre in rest of the countryfor the first time after deregulation. The new prices will be effective from midnight today. However, the actual reduction will vary from states to states.

The reduction, possible because of a fall in global oil rates, comes days after state-owned oil companies raised petrol prices by a steep Rs1.80 per litre.