Finally the government has atleast taken some steps towards reducing the oil prices and keeping it near the international levels. The government recently announced a Rs.5 cut in the petrol prices and Rs.3 for diesel prices.
This makes the petrol to be priced at around Rs.50 for a litre compared to the previous Rs.55. The exact cost may vary in each state as different tax structures are applied.
The expectations of the price cut were much higher from the public and even newspapers predicted about Rs.10 reduction for a litre of petrol and about Rs.5 for a litre of diesel. As of now more price cuts are expected to follow if the current oil prices prevail for some more time or lower even further. With elections around the corner, the government will announce several more benefits such as price cuts as well.
If the oil prics were not lowered I was thinking of shifting my favourite petrol bunk to Shell petroleum who charge a bit more for a litre but provide good quality.
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