2015 Petrol Price Revision Saturday Aug 15,2015

Petrol prices cut by Rs 1.27/litre; diesel by Rs 1.17

The government has announced that petrol price will be lowered by Rs. 1.27 a litre and diesel by Rs. 1.17 from Friday midnight Aug 14,2015

Following this price cut, petrol in Delhi will cost Rs. 63.2 per litre and diesel Rs. 44.95 a litre.

"Since the last price change, there has been a decrease in international prices of both petrol and diesel. The rupee-U.S. dollar exchange rate has, however, depreciated during this period. Combined impact of these factors warrants a downward revision in prices,” Indian Oil, the country’s largest oil marketer, said.

The announcement of a petrol prices was last made on July 31, by Rs 2.43 per litre and diesel by Rs 3.60 a litre, which was the third price cut that month.

Prior to that, in the middle of July, the government had cut petrol and diesel prices by Rs 2 each. Consumers in Delhi, however, could not enjoy this benefit as the Aam Aadmi Party raised the rate of value-added tax.

State-owned oil marketing companies like IOC, Hindustan Petroleum Corporation and Bharat Petroleum Corporation revise the prices of petrol and diesel on a fortnightly basis.

“The movement of prices in international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” the statement added.

Current Price Revised Price Decrease (All Rates in Rs/litre)
Delhi 64.47 63.20 1.27
Kolkata 69.15 68.10 1.05
Mumbai 69.51 68.24 1.27
Chennai 64.77 63.49 1.28

DIESEL

Current Price Revised Price Decrease (All Rates in Rs/litre)

Delhi 46.12 44.95 1.17
Kolkata 49.66 48.66 1.00
Mumbai 51.29 50.04 1.25
Chennai 47.30 46.08 1.22