On 15th of July, 2015 midnight of Wednesday fuel prices were once again re-aligned to international prices. Fuel prices in India are changed fortnightly to match global prices.
People who head out on 16th July, 2015 morning to fill their vehicles with fuel are in for a pleasant surprise. Both petrol and diesel price has been reduced by Rs. 2 per litre.
This is the second reduction of fuel prices in July, 2015 and will surely be a pleasant relief for most Indians. In Delhi, however, Value Added Tax or VAT has been decreased, which has nullified this benefit.
Previously petrol prices is Delhi were Rs. 66.62 per litre and diesel was Rs. 50.22 per litre. With the fuel prices being reduced and VAT increased petrol in Delhi from 16th July will cost Rs. 66.90 per litre and diesel will be Rs. 49.72 per litre.
Last time at the beginning of July, 2015 fuel prices were reduced. Petrol was cheaper by 31 paise per litre, while diesel was lowered by 71 paise per litre across India.
Indian Oil Companies will once revise pricing of fuel across India in August, 2015. It will be interesting to see if petrol and diesel prices rise or fall once again, most people would appreciate the latter.