Petrol and Diesel Prices went down by 1 paisa after 16 days

Petrol and Diesel Prices went down by 1 paisa after 16 daysPetrol and diesel prices were cut down by 1 paisa in Delhi and Mumbai today, the first reduction after 16 days of relentless price hikes. 

After 16 days of continuous hike, the Indian Oil Corporation Limited (IOC) website showed that the petrol prices have been cut down by up to 60 paise whereas diesel price went down by 59 paise. But the Indian Oil Corporation Limited (IOCL) soon clarified that there was a technical error.  The actual reduction in cost was just 1 paisa.

After the 1 paisa cut, petrol in Delhi now costs Rs 78.42 per litre and diesel costs Rs 69.30.  The cost of petrol and diesel will vary from state to state depends on local sales tax or VAT. Delhi has the cheapest price among all the metros and most state capitals.

 Fuel prices after revision

 City        Petrol Prices     Diesel Prices

Delhi         78.42                69.30

Kolkata      81.05               71.85

Mumbai    86.23               73.78

Chennai    81.42               73.17

Companies have raised prices of petrol by Rs 3.80 and diesel by  Rs 3.38 a lt in the last 16 days after keeping a price freeze for about 19 days ahead of Karnataka elections.

 On Monday, Economic affairs secretary Subhash Chandra Garg had said that fuel prices are expected to cool in the coming days.

Congress president Rahul Gandhi who threw the Fuel Challenge to Prime Minister Narendra Modi, called the move ‘childish and in poor taste’ and  wrote on the wall of Twitter, “Dear PM, You’ve cut the price of Petrol and Diesel today by 1 paisa. ONE paisa!?? If this is your idea of a prank, it’s childish and in poor taste. P.S. A ONE paisa cut is not a suitable response to the #FuelChallenge I threw you last week.”

The ‘Joke of Petrol, diesel prices cut by 1 paisa’ did not go down well with people on social media.   Few comments are as follows:

Pakchikpak Raja Babu: Indians calculating what to do with the money they’ll save after the heavy cut of 1 paisa in Petrol and Diesel prices

 Suhail Mukadam: What a big relief of 1 paisa after 16 days of upward rally on fuel prices, I am feeling so rich today.

Godman Chikna: SALE !! SALE !! SALE !!

Discount on Petrol of 1 Paisa

 Saurabh Singh: Finally, we get to see a drop in #petrol price in #Delhi.

THANK YOU

Dear Modi Ji, Kejriwal Ji & Pradhan Ji for this noble act of reducing it by ONE PAISA.

After the 16 days streak of upward trend including 8 conservative days of nearly 30p hike, this is SUPER. Highly grateful!