New Delhi: After diesel price witnessed a hike of Rs 5 a couple of week ago, the oil companies may provide relief to the people by reducing petrol price thanks to the cut in the prices of crude oil in the International market and the appreciation in the value of rupee.

According to the Petroleum Ministry, the crude oil price has declined from USD 116 to USD 104.

The recent hike in the prices of petrol and diesel has consequently resulted into inflation. Therefore, the decision of the oil companies to cut the prices of petrol may soften the blow and grant some relief to the common man.

The prices of the petrol and diesel are reviewed on a daily basis in several countries including America. Similarly, the Indian oil companies are also planning to revise the fuel prices on a daily basis.  

JPN/Bureau


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