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Petrol Prices to be cut down by Rs. 1.60 across the country!

According to the fresh reports, the petrol prices have been cut down by Rs. 1.60 across the country. However, an official announcement is still awaited from the oil marketing firms. The huge opposition from all over the country has hit the government that decided to slash the prices by Rs. 1.60. On the other hand, it is not a fait deal at all, hiking the price of petrol by Rs. 7.50 and slashing only Rs. 1.60 is surely a big cheat.

The hike of Rs. 7.50 in the petrol prices caused so much of hazard that the oil firms were also forced to make a public statement that government need to revise the petrol prices. The oil firms declare that internationally the oil prices have come down substantially from $125 per barely to $100 per barrel in March 2012. Therefore, it shows quite a big room for lowering the petrol prices in India as well.

As per the chairman of IOC (Indian Oil Corporation), Mr. R S Butola, the company will certainly pass the whole benefit of price cut to the consumers. The consumers were quite furious about the steep Rs. 7.50 rise in the petrol prices and declared ‘Bharat Bandh’ today. Obviously, the people of India will not be with just Rs. 1.50 price cut in the petrol price and they shouldn’t be. The international market saw a price down by a whopping Rs. 108 and they surely deserve a full rollback in the price. Hopefully, the government is listening to this!