Cut down off Oil prices.

After a month the petrol price was been cut down to 89 paise per litre and diesel prices by 49 paise per litre it is been a relief for the consumers. Before this in the may month the oil prices have been increased as Petrol by 4.47 a litre and diesel by 6.46 a litre after one month it has been come down. With international oil going past $ 50 per barrel, oil companies on May 31 hiked petrol price by Rs 2.58 per litre and diesel by Rs 2.26 a litre, that was the third increase in auto fuel prices since May 1. Now prices are Rs.65.60 while diesel came at Rs. 53.83 a litre.

Barring an exemption on April 16, when price of petrol was cut by Rs 0.74 a litre and diesel by Rs 1.30, the upward trend in rates has been a phenomenon since March 17. Petrol was increased by Rs 3.07 a litre on March 17 and Rs 2.19 per litre on April 4. In case of diesel, there were four straight hikes prior to that cut. The hikes totaled Rs 4.63 per litre. After discounting the April 16 reduction, petrol prices have jumped by Rs 8.99 per litre since mid-March and diesel by Rs 9.79 per litre.