The Price of petrol has been reduced by 25 paise per litre. However, the price of diesel has been hiked by 45 paise a litre. The revised price came into effect mid-night last night. The Indian Oil Corporation said, diesel will now cost 47.65 rupees per litre in Delhi, 51.51 rupees in Kolkata, 53.71 rupees in Mumbai and 50.68 rupees in Chennai.

The government has raised the cap on supply of subsidised LPG cylinders per house hold to nine cylinders from six per year. It has also allowed oil companies to hike diesel prices by a small quantum periodically. Petroleum Minister Veerappa Moily told reporters in New Delhi after a meeting of Cabinet Committee on Political Affairs, CCPA, that there will be no change in subsidised LPG and kerosene rates.

However, the price of non subsidiesed LPG has been increased by 46.5 rupees per cylinder.

Consumers will get a quota of five subsidised cylinders between September 2012 and March 2013 and from April 1, 2013, they will be entitled to nine cylinders, a year.