Oil marketing companies today slashed the prices of both petrol and diesel and reversed the month-old trend of increasing prices. Similarly, a litre of diesel will be priced at Rs 54.90 as compared to Rs 57.35 at present. Prior to that, petrol price was hiked by Rs 1.39 per litre and diesel by Rs 1.04 a litre from April 16. IOC said the price of petrol is being reduced by Rs 2.16 per litre and that of diesel by Rs 2.10 - both excluding state levies. Also read:Not an April Fool's joke: Petrol price slashed by Rs 3.77, diesel prices down by Rs 2.91Also watch:7 petrol pumps sealed in UP: How you are cheated at petrol and diesel outlets

Source: India Today May 15, 2017 17:39 UTC