Wednesday, November 16, 2011
By Pranjal Gera
Petrol prices reduced by Rs 1.85 per litre across India
There were a lot of assumptions made about the slash in petrol costs since the reports came in of Oil Marketing Companies meeting the central government with intent to discuss the matter. The meet ended on a healthy note and that was to drop the petrol prices by Rs 1.85 per litre across the nation.
The revised petrol prices came into effect since midnight, although the prices will differ in each state; based on the local taxes. Earlier the revision in fuel cost was expected to arrive by Thursday the 17th of November, but when the news got here a day prior it was a pleasant surprise for the troublesome common man.
The reason for this move by the government is still unknown, that whether it is a genuine answer to the common man’s concern or it carries another political gimmick in order to get-off the pressure formed by the adversary parties. In the last 15-17 months, the petrol prices saw a hike 11 times and this is the first time in this period, the prices observed a slash.
The crude oil prices around the globe has declined and this is considered as one the significant reasons in the fall of petrol prices in India. This year the first hike in petrol prices of Rs 3.5 per litre came into effect in the month of January followed by Rs 5 increase in May and the recent one in September of Rs 3.14. That sums up to an increase of Rs 9.94 in the petrol costs this year; which has still a month and half to go.