New Delhi: After effecting two successive increases in prices of transport fuels, India's state run oil retailers have cut the retail selling price of petrol by 74 paise per litre, and diesel by Rs.1.30 per litre.

From the intervening midnight between April 15 and 16, petrol will cost Rs.61.13 per litre in the national capital, while diesel will retail at Rs.48.01 per litre. Previously, petrol was costing Rs.61.87 per litre and diesel was retailing at Rs.49.31 per litre.