Petrol and diesel turn cheaper at midnight

Even as India celebrated its 70^th independence day, motorists too across the country had reason to cheer.

Oil marketing companies reduced the price of petrol by Rs 1.00 a litre and that of diesel by Rs 2 a litre. As a result of the revision, the price of petrol in Mumbai now stands at Rs 65.04, Rs 60.09 in Delhi, Rs 59.65 in Chennai and Rs 64.18 in Kolkata.

Diesel now costs Rs 55.64 a litre in Mumbai, Rs 50.27 in Delhi, Rs 51.65 in Chennai and Rs 52.86 in Kolkata. The price differential between the two fuels has now come down to Rs 9.40 a litre.

With the ban on big diesel-engined vehicles in the Delhi-NCR called off on August 13, demand for diesel is likely to grow in the near future.