After mass protests all over the country over the prices of petrol, the prices have been cut by Rs. 2 per litre. However this is a partial roll back of the Rs. 7.54 litre increase that took effect more than a week before.
The reduction came as a result of the fall in the international oil prices. This will mean that the price of petrol in Delhi will cost Rs. 71.18 per litre from midnight on Saturday against the Rs. 73. 18 earlier.
The price cut in the petrol prices has brought at least some relief for the customers, especially after the massive hike on May 24, 2012. Moreover, the hike even gave plenty of opportunity for the opposition parties to point out fingers at the ruling party, who out all the blame on the oil companies.
The Left along with NDA on May 31, organised a nation wide strike in protest against the price hike. last week a steep hike was observed on the prices of petrol. Gasoline prices have since fallen to $ 115 per barrel in the second fortnight but rupee dollar rate has worsened to Rs. 54 .96 to a US dollar during the period.
