India's 70th Independence Day brings along good news, as the prices of petrol and diesel have been reduced, effective midnight. Petrol has seen a price cut of Rs. 1, while diesel has seen a reduction of Rs. 2 per litre respectively.
This is the fourth instance since July the prices have been reduced for petrol and diesel.
Currently, after the price cut, petrol will cost Rs. 60.09 per litre and diesel will cost Rs. 50.27 per litre.
The Indian Oil Corporation (IOC) issued a statement saying, "The current level of international product prices of petrol and diesel and rupee-dollar exchange rate warrant a decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision."