Petrol prices reduced by Rs. 1.42/L, diesel cut by Rs. 2.01/L

Fuel prices in the country have been reduced for the third consecutive time as part of the fortnightly revisions that are based on USD-INR exchange rates and crude oil prices. Petrol has received a cut of Rs. 1.42 per litre, while diesel is down by Rs. 2.01 per litre. The reduced prices have been made applicable from the midnight of August 1, 2016.

After this fuel price drop, petrol in Delhi now costs Rs. 61.09 per litre, while diesel retails at Rs. 52.27 per litre.

The last fuel price drop on July 16, 2016 saw petrol being slashed by Rs. 2.25 per litre and diesel by Rs. 0.42 per litre. Prior to that, a price drop was made on July 1, 2016 when petrol prices were reduced by 89 paise and diesel by 49 paise a litre.

In the last few price revisions, diesel always suffered a lower price drop and a higher hike, as compared to petrol. As a result, the difference in prices of petrol and diesel in the country was reducing after every price revision. However, the recent drop has slightly increased this difference in prices of petrol and diesel.

Source: PTI