diff --git a/index.js b/index.js
index 22604ce..f411ddf 100644
--- a/index.js
+++ b/index.js
@@ -171,7 +171,15 @@ HtmlWebpackPlugin.prototype.addFileToAssets = function(compilation, filename) {
 
 HtmlWebpackPlugin.prototype.htmlWebpackPluginAssets = function(compilation, webpackStatsJson, includedChunks, excludedChunks) {
   var self = this;
-  var publicPath = compilation.options.output.publicPath || '';
+  
+  // Use the configured public path or build a relative path
+  var publicPath = typeof compilation.options.output.publicPath !== 'undefined' ?
+      compilation.options.output.publicPath : 
+      path.relative(path.dirname(self.options.filename), '.');
+
+  if (publicPath.length && publicPath.substr(-1, 1) !== '/') {
+    publicPath += '/';
+  }
 
   var assets = {
     // Will contain all js & css files by chunk
diff --git a/spec/HtmlWebpackPluginSpec.js b/spec/HtmlWebpackPluginSpec.js
index 43db916..a8bde34 100644
--- a/spec/HtmlWebpackPluginSpec.js
+++ b/spec/HtmlWebpackPluginSpec.js
@@ -446,7 +446,7 @@ describe('HtmlWebpackPlugin', function() {
     }, ['<script src="index_bundle.js"'], 'test.html', done);
   });
 
-  it('allows you to configure the output filename with a path', function(done) {
+  it('will try to use a relative name if the filename is in a subdirectory', function(done) {
     testHtmlPlugin({
       entry: path.join(__dirname, 'fixtures/index.js'),
       output: {
@@ -454,7 +454,18 @@ describe('HtmlWebpackPlugin', function() {
         filename: 'index_bundle.js'
       },
       plugins: [new HtmlWebpackPlugin({filename: 'assets/test.html'})]
-    }, ['<script src="index_bundle.js"'], 'assets/test.html', done);
+    }, ['<script src="../index_bundle.js"'], 'assets/test.html', done);
+  });
+
+  it('will try to use a relative name if the filename and the script are in a subdirectory', function(done) {
+    testHtmlPlugin({
+      entry: path.join(__dirname, 'fixtures/index.js'),
+      output: {
+        path: OUTPUT_DIR,
+        filename: 'assets/index_bundle.js'
+      },
+      plugins: [new HtmlWebpackPlugin({filename: 'assets/demo/test.html'})]
+    }, ['<script src="../../assets/index_bundle.js"'], 'assets/demo/test.html', done);
   });
 
   it('allows you write multiple HTML files', function(done) {