Relief for common man came at last as petrol and diesel prices finally witnessed a drop after 16 days.
Relief for common man was a short-lived as oil firms on Wednesday admitted that the fall in petrol and diesel prices were a clerical error. The oil companies said that the previous rates were an error and rates for diesel and petrol had been cut by a paisa only.
On Wednesday morning, the Indian Oil's website showed that the petrol in new delhi was retailing at Rs 77.83/litre and Rs 85.65/litre in Mumbai while one litre diesel stood at Rs 68.75 and Rs 73.20/litre in New Delhi and Mumbai respectively.
Below we have listed 10 points related to the much-awaited fall in petrol and diesel price.
1. The revised petrol prices in metropolitan cities are now only reduced by a paisa.
2. The Central Government has come under fire over fuel price hike. Union Petroleum and Natural Gas Minister Dharmendra Pradhan had earlier assured the public that the government will soon take out a solution to tackle the situation.
3. Last week, BJP President Amit Shah had said that a plan is being worked upon to check petrol prices in the country. Addressing the furore over fuel price hike, Shah had said that the government officials were taking the issue of fuel price hike seriously.
4. Meanwhile, a State Bank of India (SBI) report on Monday said that states can cut petrol price by Rs 2.65 per litre and diesel by Rs 2 a litre if they decide to forego potential additional gains out of high crude oil rates.
"Given that these revenue if foregone will not impact states fiscal position, we estimate that on an average, states can cut petrol prices by Rs 2.65/litre and diesel by Rs 2/litre, if the entire revenue gain was to be neutralised. This is the most plausible scenario under the current circumstances," the SBI report said.
5. On Tuesday, besides petrol, diesel, which is what most transport vehicles use, touched a new high. While the price of diesel in Delhi is Rs 69.31/litre and it is Rs 73.79/litre in Mumbai. Diesel in Kolkata and Chennai is being sold at Rs 71.86/litre and Rs 73.18/litre respectively.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "The revised petrol prices in metropolitan cities are- Delhi: Rs 77.83 per litre; Mumbai: 85.65; Kolkata: 80.47 and Chennai: 80.8")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}