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Petrol prices was cut by 89 paise per litre and diesel by 49 paise per litre on Thursday its the first decrease in rates in two months. Petrol will cost ₹ 64.76 per litre in Delhi from Thursday midnight, Indian Oil Corp declared diesel will cost ₹ 54.70 per litre. This is the first reduction in rates in two months. The present level of international product prices of diesel, petrol and Rupee-US Dollar exchange rate warrant decreased in selling price of petrol and diesel the impact of which is being passed on-to the consumers with this price revision. 
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In India Natural gas prices are likely to decline by 17% in April to $3.15 per unit, further straining economics of developing discoveries in deep-sea. According to the new gas pricing formula approved by the NDA Government in October 2014, gas prices are to be determined on a semi-annual basis and calculated based on a volume weighted average(VWA) of rates in gas surplus nations of the Canada , US and Russia, based on the 12 month trailing average price with a lag of three months.
Using prices benchmark for the period 1-January 2015 to 31-December 2015, gas price for the period April-2016 to September-2016 likely to be about $3.15 per million (British thermal unit) as against its present price of $3.82. A net calorific value (CV) basis the gas price is likely to be $3.50 per million British thermal unit (mmBtu) as compared to the present price of $4.24. Development of numerous existing discoveries in the blocks operated by state owned Oil and Natural Gas Corporation (ONGC) as well as Reliance Industries are dependent on remunerative price.

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In what is seen as a move to tackle the plunge in its sale post Diwali season, Smartphone giant Apple has slashed its prices for the iPhone 6s and the 6s Plus by 11- 16%.
According to Economic Times sources, the price of the iPhone 6s 16 GB model, which was introduced at Rs 62,000 on October 16, has fallen by 11-16 per cent and now ranges between Rs 52,000 and Rs 55,000.
The iPhone 6s 16GB now costs Rs 52,000- Rs 55,000 as opposed to the launch price of Rs 62,000 (Rs 49799 on Amazon at the time of writing).
Apple had unveiled the iPhone 6s and 6s Plus at Rs 62,000-Rs 92,000, about Rs 8,000-Rs 9,500 more than launch prices of iPhone 6 and 6 Plus in October.

The smartphone maker had also slashed the price of its iPhone 5s recently bringing it to an all-time low of Rs 20,990 for the 16GB variant.This is the first time that the price of an Apple flagship has been brought down within two months of launch.

Apple imported almost 320,000 of the latest iPhones in October in India, the world's fastest-growing smartphone market, sparking hopes of its best ever quarter. Shipments have slumped since then and the latest data suggests that imports of the new models fell 62 per cent to 120,000 in November, the ET reported.
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