Zee Media Bureau
New Delhi: The prices of Diesel and petrol is likely to be cut by Rs 2.50 before Jharkhand, Jammu and Kashmir polls, a financial daily quoting government sources has said.
If rates are slashed, it will be the sixth consecutive reduction in petrol prices since August and the first cut in diesel rates ever since government deregulated diesel prices this month.
In a major reform push, the government on October 19 deregulated diesel prices but hiked natural gas tariff by 46 percent that will push up fertiliser, power, CNG and PNG rates.
The deregulation of diesel will bring down rates and will move in tandem with international cost from next month.
Diesel price were last cut on January 29, 2009 when they were reduced by Rs 2 a litre to Rs 30.86. Rates had since climbed to Rs 58.97. It will cost Rs 55.6 per litre in Delhi from tomorrow.
After deregulation, government will no longer provide subsidy on diesel.
