Petrol and diesel prices reduced on January 1, 2016

The prices of petrol and diesel have been reduced in India from the midnight of January 1, 2016. While the price of petrol has been cut by 63 paise per litre, the price of diesel has been slashed by Rs. 1.06 per litre. As a result of the reduction, petrol now costs Rs. 59.35 per litre in Delhi and diesel is priced at Rs. 45.03 per litre.

Fuel prices are increased or decreased every fortnight according to international rates and the Rupee - US Dollar exchange rate.

This is the third time in a row that fuel prices have been reduced. On December 1, 2015, the prices of petrol and diesel were slashed by 58 paise per litre and 25 paise per litre respectively. On December 16, the price of petrol had been cut by 50 paise per litre, while that of diesel had been lowered by 46 paise per litre.