Prices of petrol and diesel are likely to be cut by upto Rs 2.50 per litre from Friday midnight due to fall in international brent crude oil prices.
Sources said, with the fall in crude oil price to about USD 85 a barrel, oil companies in India are likely to slash the prices of petrol and diesel.
In the month of October, the price of petrol was reduced by about Rs 2 per litre on two ocassions.
In the same month, on October 19, the Narendra Modi government deregulated diesel prices which let to a reduction of Rs 3.37 a litre in the fuel price.