Petrol price cut by Rs 1.15; diesel hiked by 50 paise

New Delhi, Oct 31 (KMW): Petrol price on Thursday were cut by Rs 1.15 a litre, the second reduction in rates in a month, while diesel prices were raised by 50 paise per litre.

The price changes announced by oil companies are excluding local sales tax or VAT and will be effective from Thursday midnight, oil companies announced.

Petrol price in Delhi will be cut by Rs 1.38 to Rs 71.02 per litre, while it will cost Rs 78.