September 1, 2015: Fuel prices cut in fortnightly revision

The prices of petrol and diesel in India have been reduced from the midnight of September 1, 2015. The price of petrol has been dropped by Rs. 2 per litre while that of diesel has been slashed by 50 paise per litre. Petrol is now priced at Rs. 61.20 per litre, while diesel is priced at Rs. 44.45 per litre in Delhi.

This is the fifth successive reduction in the prices of fuel. On July 1, the price of petrol was cut by 31 paise and that of diesel was slashed by 71 paise and on July 16, the prices of both fuels were reduced by Rs. 2 per litre. On August 1, the price of petrol was cut by Rs. 2.43 per litre and that of diesel, by Rs. 3.60 per litre. August 15 saw the prices of petrol and diesel slashed by Rs. 1.27 per litre and Rs. 1.17 per litre respectively.

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 the international rates of fuel have been dropping, the Rupee has also been depreciating against the UD Dollar.