August 15, 2015: Fuel prices reduced again

The prices of petrol and diesel in India have been reduced from the midnight of August 15, 2015. While petrol is cheaper by Rs. 1.27 per litre, diesel will cost Rs. 1.17 per litre lesser. As a result of this cut, petrol is now priced at Rs. 63.20 per litre, while diesel is priced at Rs. 44.95 per litre in Delhi.

This is the second successive time this month that fuel prices have been cut. It is also the fourth successive reduction in the prices of fuel. On July 1, the price of petrol was cut by 31 paise and that of diesel was slashed by 71 paise and on July 16, the prices of both fuels were reduced by Rs. 2 per litre. On August 1, the price of petrol was cut by Rs. 2.43 per litre and that of diesel, by Rs. 3.60 per litre.

Fuel prices are reviewed every fortnight in India. Prices are hiked or lowered according to international rates and the Rupee - US Dollar exchange rate. While the international rates of fuel have dropped, the Rupee has depreciated against the UD Dollar.