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Petrol price reduced by Rs 0.58 and diesel by Rs 0.25

Petrol price reduced by Rs 0.58 and diesel by Rs 0.25
Nikhil Puthran Nikhil Puthran Tuesday 01 December 2015, 14:29 PM

Petrol and diesel prices have been reduced by Rs 0.58 and Rs 0.25 respectively, from today. The changes in prices are to align them with international prices and adjusting for foreign exchange rates.

Due to this revision in rates, petrol costs Rs 60.48 per litre in Delhi and diesel is priced at Rs 46.55 per litre. In Mumbai, petrol is priced at Rs 74.52 and diesel costs Rs 57.64. Diesel prices were last cut by 50 paise on September 1 and remained the same on November 1. However, there was an increase by 95 paise on October 16 and 50 paise on October 1. The government had slashed prices of petrol by Rs 3.70 in August and Rs 2 in September.

The slight reduction in fuel prices this month has not really come as a respite for vehicle owners as the price cut is very meager. Also, the hike in international prices of fuel and depreciation in the rupee will only mean an upward revision in prices of fuel in India soon. Indian fuel retailers are closely monitoring this and will bring in the price changes in the next 15 days.

 

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