Indian Oil Corporation regulates the price of petrol and diesel every fortnight. They align the prices of fuel in India according to global rates.
From 16th April, 2015 petrol and diesel price will be slashed. IOC will decrease prices owing to the fall in crude oil prices globally.
Petrol prices from Thursday will be cheaper by 80 paise per litre. Diesel will witness a bigger reduction of Rs. 1.30 per litre. IOC constantly passes on benefit to customers post deregulation of both fuels.
Previously fuel prices were slashed on 2nd of April, 2015. Petrol rates were lowered by 49 paise. Diesel owners received a bigger relief as price was reduced by Rs. 1.21 per lire.
Petrol now will cost Rs. 59.20 per litre, while diesel is priced at Rs. 47.20 per litre in Delhi. State wise prices will differ due to various taxes added to fuel prices by various Governments.
Fuel prices will keep fluctuating in India as the INR and USD exchange rate is not steady. Crude oil prices are also going up and down due to global issues across the world.