Zee Media Bureau
The government on Saturday deregulated diesel prices, a move that will result in a price cut of Rs 3.37 a litre with effect from midnight.
Finance Minister Arun Jaitely said the Cabinet in its meeting today decided to deregulate or free diesel prices. Retail rates will now reflect international movement in oil prices.
This is the first reduction in diesel rates in over five years. Diesel rates were last cut on January 29, 2009 when they were reduced by Rs 2 a litre to Rs 30.86.
Diesel prices were last raised by 50 paisa on September 1 and cumulatively risen by Rs 11.81 per litre in 19 instalments since January 2013.
Following are the revised prices of diesel in four metros after government de-regulated the fuel:
Delhi: Current Price (Rs 58.97) Revised Price (Rs 55.60) Decrease in price (Rs 3.37)
Kolkata: Current Price (Rs 63.81) Revised Price (Rs 60.30) Decrease in price (Rs 3.51)
Mumbai: Current Price (Rs 67.26) Revised Price (Rs 63.54) Decrease in price (Rs 3.72)
Chennai: Current Price (Rs 62.92) Revised Price (Rs 59.27) Decrease in price (Rs 3.65)
With agency inputs
