In a slight relieve to consumers with the sudden price drop in international crude oil and product prices , public sector oil marketing companies have reduced petrol and diesel prices in Delhi . The retail price of petrol has been reduced by 49 paise per litre while diesel is now cheaper by 1.21 per litre. The prices cut will vary from state to state according to the state taxes.
With these change, the price of petrol will be Rupees 60 per litre and diesel will become Rs 48.50 per litre with effect from midnight of 1st/2nd April. In a statement, Indian Oil Corporation Ltd has confirmed that it has decided to effect the price changes with effect from midnight of 1st/2nd April, 2015.
In February 28, the fuel prices were last revised with the price of petrol increased by 3.18 per litre while diesel was increased by 3.09 per litre. Since the increase, the international prices of both diesel and petrol have descended and along with the depreciation in the INR-USD exchange rate, the impact warrants decrease in retail selling prices of both petrol and diesel, according to Indian Oil Corporation.