The common Indian bike user might be in for another cool surprise, as there is another possibility of petrol price cut. The news has been doing the rounds that the most important fuel for the auto commuters might be decreased for the second time. This would certainly come as a cool development in the hot days.
It was on May 24, 2012 that the oil companies had hiked the price by a whopping Rs. 7.50. It was a hike that sent the tempers of the entire country fuming with rage. There were a lot of agitations from different quarters of the nation and even the issue was politicized.
Come June 2 and there was a slight relief for the customers as the prices came down by Rs. 2. Some states also cut the VAT – value added tax. That further brought down the extra load off the customers.
However, there is another good news in the offing. Finance Minister Mr. Pranab Mukherjee has given a hint that the prices of the fuel may further go down as the prices in the international market of the crude oil was on the decline. The only think we have to wait for is to see what stand has the oil companies to take on this.