Today is 1st of April, 2015 most people celebrate this day as fool's day. We promise you that we are not fooling you, when we tell you that petrol and diesel prices have been reduced.
Fuel prices have been slashed all over India, however, it could vary with individual state taxes. The reduction in fuel prices will be effective from 1st April midnight, meaning 2nd early morning.
Petrol price has been reduced by 49 paise per litre. On the other hand diesel price has been slashed down by Rs. 1.21 per litre. These price reductions are for Delhi and other states would levy their taxes on it.
In Delhi fuel prices of petrol currently stand at Rs. 60 for a litre. Diesel prices have been lowered down to Rs. 48.50 per litre. This will surely be taken well by Indians, as previously fuel prices were hiked.
Both petrol and diesel prices have been deregulated in India. Oil Companies have linked the fuel rates to international prices. They keep regulating the prices every fortnight to match global prices.
Previously petrol and diesel prices were increased post the announcement of Union Budget. Petrol and diesel rates were increased by Rs. 3.18 and Rs. 3.09 per litre respectively.