Petrol and diesel prices slashed in India

The prices of petrol and diesel have been slashed in India from April 16, 2016. While the price of petrol has been slashed by 74 paise per litre, the price of diesel has been cut by Rs. 1.30 per litre.

In New Delhi, petrol is now priced at Rs. 61.13 per litre, while diesel costs Rs. 48.01 per litre. The reduction in the prices of fuel comes after two consecutive hikes in the price of petrol and four consecutive hikes in the price of diesel.

Earlier this month, the price of petrol was increased by Rs. 2.19, while that of diesel was hiked by 98 paise. On March 17, the price of petrol was raised by Rs. 3.07 per litre. In the case of diesel, on February 16, March 1 and March 17, the price went up by 28 paise, Rs. 1.47 and Rs. 1.90 per litre respectively.

Fuel prices are increased or decreased every fortnight depending on the prevailing international crude oil rates and the Rupee - US Dollar exchange rate.