Petrol prices per litre have decreased by Rs 2.35, and of diesel by Rs 1.02, ever since the daily revision in rates was implemented throughout the country from June 16. On that day, petrol cost Rs 65.48 a litre in Delhi, while diesel sold for Rs 54.49 per litre. Following the success of a pilot project in five cities, India switched to the daily pricing mode for transport fuels in line with global rates. The pilot project on daily revision of retail selling prices was implemented in Udaipur, Jamshedpur, Visakhapatnam, Chandigarh and Puducherry from May 1. The accumulated daily revision leading to a decrease of over Rs 2 in petrol, for instance, is the result of the recent trend in global prices.

Source: Hindustan Times July 03, 2017 13:30 UTC