The petrol and diesel prices in India have been slashed from themidnightofAugust 1, 2016. Petrol is now cheaper by Rs 1.42 per litre, while diesel price is cut by Rs 2.01 a litre.
This price cut is a part of the fortnightly revision by oil firms and is based on the USD-INR exchange rates and crude oil prices. Now, petrol costs Rs 61.09 per litre in Delhi and diesel retails at Rs 52.27 per litre.
The last fuel price cut was on July 16, 2016 that saw petrol being reduced by Rs 2.25 per litre and diesel by Rs. 0.42 per litre. Before that, on July 1, 2016 petrol prices were slashed by 89 paise and diesel by 49 paise a litre. Thankfully, this time, the revision in fuel prices comes as a respite from the ever increasing prices.
Mostly diesel always saw a lower price cut and a higher hike in comparison to petrol. This had reduced the petrol-diesel price gap, however with the latest drop, the difference in petrol and diesel prices has increased again.
