Drop in fuel prices has indeed been reason for cheer amongst Indian motorists. In last couple of months, the petrol and diesel prices in the country have witnessed a constant drop. This time again, for the tenth time, the petrol price has gone down by Rs. 2.42 per liter, whereas diesel gets cheaper by Rs. 2.25 per liter.
A statement released by Indian Oil Corporation in this regard states, “International prices of both petrol and diesel have continued to be on a downtrend and the INR-USD exchange rate has appreciated. The combined impact of both these factors warrant a decrease in retail selling prices of both petrol and diesel.”
With the fresh announcement, motorist in Delhi shall have to pay Rs. 56.49 Rupees as against the Rs. 58.91 per liter, whereas diesel costs Rs. 46.01 as against Rs. 48.26 per liter. Post reduction in prices, the state's fuel retailers are still making a profit margin of about Rs. 4 a liter on Petrol and about Rs. 3.6 per liter on diesel, so as to use the cost to recuperate from inventory losses.
