<p class="title">Petrol price was on Thursday cut by 7 paise a litre and diesel by 5 paise - the second reduction in as many days on the back of softening international oil rates.</p>.<p class="bodytext">Petrol in Delhi now costs Rs 78.35 a litre, down from Rs 78.42, according to a price notification issued by state-owned oil firms.</p>.<p class="bodytext">Diesel rates have been cut to Rs 69.25 per litre from Rs 69.30.</p>.<p class="bodytext">This is the second reduction in rates coming after a 16-day relentless price hike that followed lifting of a nearly three-week hiatus on price revision just before Karnataka went to polls.</p>.<p class="bodytext">Petrol and diesel prices were yesterday cut by 1 paisa a litre each. That reduction followed rates touching an all-time high of Rs 78.43 per litre for petrol and Rs 69.31 for diesel in Delhi on Tuesday.</p>.<p class="bodytext">Prices vary from state-to-state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals.</p>.<p class="bodytext">In the 16 consecutive increases since May 14, petrol price was hiked by Rs 3.8 per litre and diesel by Rs 3.38.</p>
<p class="title">Petrol price was on Thursday cut by 7 paise a litre and diesel by 5 paise - the second reduction in as many days on the back of softening international oil rates.</p>.<p class="bodytext">Petrol in Delhi now costs Rs 78.35 a litre, down from Rs 78.42, according to a price notification issued by state-owned oil firms.</p>.<p class="bodytext">Diesel rates have been cut to Rs 69.25 per litre from Rs 69.30.</p>.<p class="bodytext">This is the second reduction in rates coming after a 16-day relentless price hike that followed lifting of a nearly three-week hiatus on price revision just before Karnataka went to polls.</p>.<p class="bodytext">Petrol and diesel prices were yesterday cut by 1 paisa a litre each. That reduction followed rates touching an all-time high of Rs 78.43 per litre for petrol and Rs 69.31 for diesel in Delhi on Tuesday.</p>.<p class="bodytext">Prices vary from state-to-state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals.</p>.<p class="bodytext">In the 16 consecutive increases since May 14, petrol price was hiked by Rs 3.8 per litre and diesel by Rs 3.38.</p>