The Indian oil Corporation has slashed the prices of petrol by 40 Paise per litre from today onward. The drop in prices came after almost six months of prices being held steady. The new prices are effective from 6AM on November 1.
The drop in prices was expected as international crude oil prices dropped and have remained stable for more than six months. The crude oil has remained below 95 dollars per barrel which is about Rs.7,900 for some time now.
In Assam the petrol price was Rs.97.01 per litre but after the reduction the price is Rs.96.01 paise this morning. While the price of diesel was Rs.84.20 per litre and after the reduction it is Rs.83.94 per litre.
Employees of the petrol gas station said that every other day the prices fluctuate and minute changes like 40 Paise remain unnoticeable. "The commuters regularly complain and question us when the prices are going to reduce significantly and for that, we do not have an answer."
“Minute changes like 40 paise do not affect much since even if you refill the tank fully the highest changes you will notice is of Rs.3 which is very less,” said Bishnu, petrol refiller at Bharat Petroleum.
While talking to general commuters, most expressed angst at the increasing price of petrol. Many complained that a major chunk of the monthly budget is spent on fuel and requested the government to lower the prices significantly so that they can save up a little bit as the prices of all the essential items have been continuously increasing.
“The prices have just been reduced 40 paise and it is totally negligible. According to my calculation, I will just save up to Rs.20 to Rs.25 per month and at that price, I will not even get a packet of biscuits. I travel by two-wheeler and I need to refill around Rs.100 to Rs.150 of petrol daily. A reduction of 40 paise doesn't affect me”, said Monoj, a general commuter.
"The only difference I would have found if the petrol price was being reduced to at least Rs.10. Reducing to 40 paise is irrelevant,” said another.
The overall slashing of prices is not being much helpful for the public and the commuters are hoping for a significant reduction in both prices of fuel as well as diesel.
Notably, IOC had announced a reduction in prices of both diesel and petrol from November 1, however, the actual change had been limited to just petrol.
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