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Petrol and Diesel prices across India have reduced, but by just by 1 paise. Earlier reports suggested that the prices of petrol and diesel had reduced by almost 60 paise, but that has been proved to be wrong. The error was due to a clerical mistake, as reported by a senior Indian Oil Corporation official.
Over the last 16 days, many major metros have recorded the highest price hike for petrol and diesel since 2013.
Prices in the national capital, Delhi are still at Rs 78.42 per litre for petrol and Rs 69.30 per litre for diesel. marking just a reduction by 1 paise.
A senior official at Indian Oil stated, "The reduction was supposed to be 1 paisa but due to a clerical error the price prevalent on May 25 was communicated as today's price."
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Mumbai recorded the highest fuel price hike among all metros in India. This was due to the high local taxes applied. Currently, petrol and diesel prices in the city are Rs 86.23 per litre for petrol and Rs 73.78 per litre for diesel.
This translates to a reduction by exactly 1 paise for both petrol and diesel.
Petrol and diesel prices in Bangalore are also similar. With prices current prices of Rs 79.70 and Rs 70.49 per litre for petrol and diesel.
Oil companies waited for the Karnataka polls to end, before consecutively increasing petrol and diesel prices.
Over the past 16 days, the total increase in petrol and diesel prices had increased by Rs 3.8 and Rs 3.38 per litre of petrol and diesel, respectively.
Also Read: Government Can Reduce Petrol Price By Rs 25 Per Litre - P Chidambaram
Thoughts On The Reduction Of Petrol & Diesel Prices
The petrol and diesel prices in India have at an all-time high. The 1 paise reduction hardly makes any difference.