The fuel prices have been updated for the fourth time this year. The petrol prices have been reduced by Rs 0.74 per litre while that of diesel have been slashed by Rs 1.30 per litre. The new prices were brought into effect on April 15, 2016. The update in the fuel prices was done following the current international prices of petrol and diesel along with the INR-USE exchange rate.
According to an official statement from Indian Oil, the current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in petrol and diesel prices, the impact of which is being passed on to the customers with this price revision.
It further adds, the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.
The present prices of petrol and diesel in Mumbai are Rs 65.63 per litre and Rs 53.49 respectively while that in Delhi are 61.13 per litre and 48.01 per litre.