Petrol prices in India witness a cut while diesel prices remain unchanged. Indian Oil Companies realign the fuel prices across the country every fortnightly. The price fluctuates as domestic prices are matched to international fuel prices.
Indians will witness petrol price drop by 50 paise per litre. The price has been reduced from November 1, 2015, onward. Diesel prices have not been changed this time around in India.
During the previous fuel price revision, diesel prices were hiked and petrol price remained unchanged. Surprisingly, petrol prices did not witness any change during the last three revisions. Diesel prices grew significantly.
All benefits are passed on to customers in India. Smallest fluctuations in fuel prices are carried forward to customers. Both petrol and diesel prices have been de-regularised in India. Indian Oil Corporation pays close attention to international fuel prices and adjusts domestic prices.
With the latest update, petrol price in Delhi will now cost Rs. 60.70 per litre from November 1, 2015. This price will differ from state to state, owing to the local duties and taxes that are levied.
The exchange rate between rupee and dollar also affects the fuel prices across the globe. Indian Oil Corporation will increase and decrease petrol and diesel prices in India every fortnightly.