The petrol prices have been reduced by Rs 0.74 per litre while that of diesel have been reduced by Rs 1.30 per litre. The update in the fuel prices was done following the current international prices of Crude Oil along with the INR-USE exchange rate.

The price change will be effective from midnight April 15/April 16. After the change, petrol will cost Rs 61.13 per litre in Delhi while diesel will cost Rs 48.01 per litre.

The prices have been updated for the fourth time this year, State-owned fuel retailers IOC, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise rates of the fuel on 1st and 16th of every month based on the average oil price and the foreign exchange rate in the preceding fortnight.

The company also added that “The movement of prices in the international oil market and Rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes’’.