Petrol price cut by Rs 2.43 per litre, diesel by Rs 3.60 per litre effective midnight tonight. The last cut in petrol and diesel prices was effected on 15 July when rates were slashed by Rs 2 per litre, excluding local levies, but petrol actually became costlier in the national capital due to an increase in VAT rate effected by the Aam Aadmi Party (AAP) government.