Petrol price slashed by Rs. 1.46, diesel down by Rs. 1.53

Petrol prices in the country have been cut by Rs. 1.46 per litre, while diesel will now be cheaper by Rs. 1.53 per litre. The mentioned price cut is excluding state levies. The revised prices have been made applicable from the midnight of November 15 and November 16, 2016.

In New Delhi, petrol now costs Rs. 65.93 per litre, while diesel is priced at Rs. 54.71 per litre.

This price cut comes after a continuous rising trend in fuel prices in the country over the past couple of months. Petrol had gone up by Rs. 7.53 per litre since September, while diesel suffered a hike of Rs. 3.90 per litre in the last month.

Fuel prices in the country are revised every fortnight by state-owned subsidiaries like Hindustan Petroleum Corporation Ltd. (HPCL), Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC). The decision is taken after taking into account factors like INR-USD exchange rates and international crude oil prices.

Source: PTI News