PETROL PRICE CUT BY 49 PAISE, DIESEL BY ` 1.21 A LITRE

Petrol price was cut by 49 paisa a litre on Wednesday, diesel by Rs1.21 a litre and jet fuel by 2%, but rates of non-subsidised LPG were hiked by Rs11 a cylinder. The reduction in petrol and diesel prices, which are effective from Thursday, comes after two consecutive hike in Feb and March. Prior to these increases, petrol price had been cut 10 times since Aug 2014, and diesel 6 times since Oct.