Fuel prices have seen a decrease for the first time in two months as petrol will now cost 89 paise per litre cheaper and diesel by 49 paise. The prices are effective Friday onward. Current fuel prices around India can be checked here.
During the last four hikes since May 1, petrol prices went up by Rs. 4.52/litre and diesel had gone up by Rs. 7.72/litre. The reduction in prices this time is a welcoming factor.
Indian Oil Corporation in a statement said, "The current level of international product prices of petrol and diesel and Rupee-US Dollar 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."