Fuel prices were revised for the second time this month and this time, petrol and diesel prices came down by a significant value. While petrol prices were reduced by INR 2.16 per litre while diesel saw a price reduction of INR 2.10 per litre. Effective from the midnight of 15th May 2017 and 16th May 2017, petrol will cost INR 65.32 in Delhi while diesel will cost INR 54.90. Indian Oil Corporation (IOC) issued an official statement regarding the price hike.
The largest oil retailer of the country said, “The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant decrease in selling price of Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision. 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.”
Following are the new city wise prices of petrol and diesel respectively:
Petrol
| Cities | Old Prices | New Prices |
| Delhi | 67.48 | 65.32 |
| Kolkata | 70.37 | 68.21 |
| Mumbai | 76.69 | 74.53 |
| Chennai | 70.42 | 68.26 |
Diesel
| Cities | Old Prices | New Prices |
| Delhi | 57.00 | 54.90 |
| Kolkata | 59.33 | 57.23 |
| Mumbai | 62.57 | 60.47 |
| Chennai | 60.17 | 58.07 |