NEW DELHI: Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.

The revised price will be applicable from 6 am on Friday, March 15, the oil ministry said on Thursday evening.

Petrol in the national capital will now cost Rs 94.72 a litre compared to Rs 96.72 per litre currently, and diesel will come for Rs 87.62 against Rs 89.62 at present.