Petrol and Diesel prices in Jammu and Kashmir have been slashed by Rs 5 per litre, the state government said Thursday.

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"The state government this evening announced matching cut of Rs 2.50 per litre in fuel prices commensurate with the price cut of Rs 2.50, announced by the central government earlier today," an official spokesman said.

The new fuel prices would be effective in the state from this midnight, he said.