Petrol and diesel prices slashed in fortnightly revision

Fuel prices have been slashed in India from the midnight of December 16, 2015. The price of petrol has been cut by 50 paise per litre, the price of diesel has been reduced by 46 paise per litre. Petrol is now priced at Rs. 59.98 per litre in Delhi and diesel at Rs. 46.09 per litre.

On December 1, the price of petrol has been reduced by 58 paise per litre while that of diesel has been slashed by 25 paise 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 crude oil prices have hit an 11-year low, the US Dollar has gained against the Rupee.