Amongst the burdensome price-hikes of LPG, basic necessities and of course the cash crush, a soothing news has hit the people. We are talking about the price-drop of petrol and diesel. It was expected that the prices of fuel will be lowered but the uncertainty always pertained as the gulf countries were not ready for the price drop but finally the winds of change have started blowing and the prices of petrol and diesels are lowered by Rs. 3.77 and Rs. 2.77 respectively.
Reason of price drop
In the last few weeks, a downfall is witnessed in the market of crude oil in the gulf nations. The fall of 10% in raw oil eventually gave birth to the price drop in other countries. Now the common man is relieved to hear this thing as the post demonetisation effects and service charges by petrol pump owners on card-swiped billing have been troubling the mass. This news will certainly relieve people.
International market trends
The price drop is the result of decreasing prices of crude oil in the international markets. The current selling price of petrol and diesel has been declining and consequently the oil companies have lowered the prices.
The new price rates will be implemented from April 1, 2017. People will get the fuel on the lowered rates.
This price-drop is seen as a tool to control the reckless inflation and we hope that the government will be able to recognise the utmost importance of inflation-control as people have been suffering a lot.
New Rates in Major cities
Petrol: Rs. 71. 14
Petrol: 75. 30
Diesel: 65. 25