Super 6: Centre cuts fuel prices by Rs 2.50/litre, some states follow suit

Under attack from rivals and with Assembly elections round the corner, the Centre on Thursday cut petrol and diesel prices by Rs 2.50 per litre, a decision that was followed by several BJP-ruled states, giving an overall relief of Rs 5 per litre to the consumer.

The Centre's decision will result in a revenue loss of Rs 10,500 crore in six months, Finance Minister Arun Jaitley said while announcing the much sought-after relief and asking states to effect a similar cut.