Petrol prices slashed by Rs 1.27 per litre, diesel by 1.17 per litre

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The 69th Independence Day has arrived with some relief on the fuel front as petrol prices have fallen tad below Rs 69, Rs 68.24 per litre to be precise, in the city of Mumbai. Petrol prices, as on August 15, 2015, stand at Rs.63.20 in Delhi, Rs.68.10 in Kolkata and Rs.63.49 in Chennai per litre. Diesel prices too have seen a cut on this Independence Day. A litre of diesel, post the price cut, will now cost Rs 50.04 in Mumbai, Rs 44.95 in Delhi, Rs 48.66 in Kolkata and Rs 46.08 in Chennai. The reason behind these reductions is due to fall in international crude oil prices.

“Prices of petrol and diesel were last revised w.e.f. 1st August. Since last price change, there has been a decrease in international prices of both petrol and diesel. Rupee-dollar exchange rate has, however, depreciated during this period. Combined impact of both these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease,” Indian Oil Corp said in the statement.

“The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” Indian Oil further added.

It was only 15 days ago (August 01, 2015) when the petrol and diesel prices were reduced by Rs. 2.43 per litre and Rs. 3.60 per litre respectively. Fuel prices in India are evaluated every fortnight, after considering factors such as fluctuations in international oil markets and USD-INR exchange rates.

With inputs from PTI

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