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Petrol price cut by Rs 3.02; diesel hiked by Rs 1.47

Petrol price cut by Rs 3.02; diesel hiked by Rs 1.47
Ninad Ambre Ninad Ambre Tuesday 01 March 2016, 12:23 PM

Fuel rates have been revised yesterday, with petrol price slashed by Rs 3.02 and diesel price hiked by Rs 1.47. With the revision, petrol is now priced at Rs 56.61 per litre and diesel costs Rs 46.43 in Delhi.

The final fuel price revision due for February was revised yesterday. While the decrement in the petrol price might come as a respite for petrol car owners, the increment in diesel prices is only going to add to the despair of diesel car owners. This is the seventh petrol price reduction in succession and second diesel price hike in February itself. Earlier, the price of petrol was reduced by 32 paise per litre on February 18 and diesel price was increased by 28 paise a litre.

Indian fuel retailers review the fuel prices every fortnight. Depending on the fluctuating global rates of fuel and the Rupee-US Dollar exchange rate, the impact of this is passed on to the consumers. The changes in fuel prices are to align them with international prices and adjusting for foreign exchange rates. We can expect the next fuel revision by mid-March.

 

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