Diesel car owners have a reason to be happy, after 5 years, and monthly price hikes over the past year or so, diesel fuel prices are expected to go down by Rs. 1 per litre. Also, petrol prices will also go down by Rs. 1.75 per litre.
Raters of fuel have gone down internationally and expect local oil firms to announce the price correction shortly.
Since September 16 2014, the companies were over-recovering 35 paise per litre and the under-recovery issue had been taken car of. As of date, the companies are over-recovering about Rs. 1 per litre. This diesel price correction comes after a long period, the last time it was dropped by Rs. 2 in 2009. In monthly installments, diesel prices have increased by Rs. 11.81 per litre.