There is some good news in picture for people already hit by the inflation in fuel prices in the past 6 months. The petrol price has been cut by Rs 2.16 per litre and the Diesel prices have been cut by Rs 2.10 per litre. These are the basic figures in deduction and do not take the state VAT into consideration.
This means that after considering the change in state tax, the deduction will be higher. The change has been considered and has been made applicable from last midnight itself ( May 16th). Now after the deduction the petrol prices in Delhi stand at Rs. 65.32 per litre and Diesel prices stand at INR 54.90 per litre. As per the last revision which came about on May 1, Petrol and Diesel Prices were hiked by Rs 1 and 44 paisa respectively. As a standard practice, fuel prices are revised on the 1st and 16th of every month. The change in fuel prices is also based on the fluctatuating INR-USD currency rates.