The price of petrol has been slashed by Rs1.57 per litre for the month of November, according to a notification from the finance ministry.
The new price will be effective from midnight.
Diesel will also cost 84 paisas cheaper per litre, said the notification, adding that the prices of light diesel oil and kerosene will remain unchanged.
After the new prices go into effect, petrol will cost Rs102.40, whereas diesel will cost Rs103.22 per litre.
Meanwhile, a litre of kerosene oil will cost Rs65.29 and a litre of light diesel oil will cost Rs62.88.