Fuel Prices Reduce For Third Time In A Row

Modified On Aug 01, 2016 12:34 PM By Nabeel

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Good news, folks! Fuel prices have seen yet another dip -- for the third time. Thanks to the fortnightly revision of fuel prices, the cost of petrol has been reduced by Rs 1.42 per litre and that of diesel by Rs 2.01 per litre. After this revision, the cost of petrol and diesel in the national capital stands at Rs 61.09 and Rs 52.27 per litre, respectively. These prices have taken effect from August 1, 2016. In the previous revision, on July 16, 2016, the price of petrol and diesel were reduced by Rs 2.25 and Rs 0.42 per litre, respectively.

The statement from Indian Oil Corporation Limited says, "The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant decrease in the price of Petrol and increase in the price of Diesel, the impact of which is being passed on to the consumers with this price revision. The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes."

These are the revised fuel prices:

City Petrol (per litre) Diesel (per litre) Price Difference
Delhi Rs 61.09 Rs 52.27 Rs 8.82
Bengaluru Rs 65.58 Rs 55.97 Rs 9.61
Jaipur Rs 63.49 Rs 56.22 Rs 7.27
Mumbai Rs 65.70 Rs 57.47 Rs 8.23

 Fluctuation witnessed since April:

Month Status Petrol (per litre) Diesel (per litre)
April Start Hike Rs 2.19 Rs 0.98
April Mid Dip Rs 0.74 Rs 1.30
May Start Hike Rs 1.06 Rs 2.094
May Mid Hike Rs 0.83 Rs 1.26
June Start Hike Rs 2.58 Rs 2.26
June Mid Hike Rs 0.05 Rs 1.26
July Start Dip Rs 0.89 Rs 0.49
July Mid Dip Rs 2.25 Rs 0.42
August Start Dip Rs 1.42 Rs 2.01

In the last three fluctuations, petrol prices have come down by Rs 4.56 and diesel prices by Rs 2.92. This means some relief for daily office commuters. We hope this decrease in the fuel prices continues further.

Also Read: Mumbai Petrol Pumps To Run Dry From Aug 1 - Report

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