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February 15, 2007 13:09 IST
Last Updated: February 15, 2007 13:37 IST
Petrol and diesel prices were cut on Thursday by Rs 2 and Re 1 per litre, respectively, Petroleum Minister Murli Deora announced.
Following the reduction, which would be effective from midnight on Thursday, retail selling price of petrol in the national capital would be Rs 42.85 a litre and diesel Rs 30.25 a litre.
The decision follows meeting that Prime Minister Manmohan Singh had with Finance Minister P Chidambaram and Deora. The finance ministry is also likely to make duty adjustments and possibly cut excise rates. An announcement to this effect is expected later on Thursday.
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