| Petrol price was on Thursday (October 31) 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 midnight tonight, 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 78.04 a litre in Mumbai as against Rs 79.49 currently. The reduction comes on back of a Rs 3.05 per litre (Rs 3.66 after including VAT) cut in rates effected from October 1.
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