Petrol, diesel likely to become cheaper in India : Check Details

If there is more reduction in global oil prices, fuel prices in india can be reduced further. Sources told that prices of petrol, diesel in retail domestic market are decided on a 15 days average rolling. So in such a condition if global oil price falls continuously, it will automatically led to fall of petrol & diesel prices in domestic market. 

Indian oil PSU's revise petrol and diesel prices on  daily basis but this revision of prices is totally based on 15-day average rolling of global price of oil done to insulate petrol and diesel consumer from Volatility of international oil market. 

    

     Since November 5 petrol and diesel retail prices have remained unchanged  after a decrease by ₹5 per litre and ₹10 per litre respectively. Further relief for consumers was decrease in prices consequent to VAT rate revision by 27 states/ UTs.