In a span of not even a full fortnight, we might breathe another sigh of relief as there are chances of state run oil companies reducing petrol prices in the region of rupee 1 to 1.50 including taxes.
Update: Petrol Reduced by Rs.0.65 – Article Link
This news has been doing rounds on all the major news channels and has been cheered by the common man, since it would be the second time he would be able to save a wee bit more in his monthly expenditures.
If everything goes well, the trimming down of prices might go effective from 1st December when generally any change is made effective by the PSUs every fortnight. Combined with the last cut on November 15, if this reduction is brought into effect, a common man would be able to save a hefty amount in between Rs 3.30 to Rs 4 for every liter within a fortnight. Adding to my previous savings of approx Rs.100, I would further save Rs.50 per month on my bike. However, for a common man driving his small car with an average of 16 kmpl and an average monthly running of 1000 kms, total combined (combining last reduction as well) savings vis-à-vis the inflated prices till November 15 would be something in the range of Rs.225 per month.
I also expect Shell to follow suit and reduce prices of its petrol. We will keep an eye on the prices and would update you if we get to hear the fairly good news.
– Saad Khan