Paisa Petrol Price Cut Fuels Memes, Jokes And Anger On Twitter

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After 16 days of relentless price hikes, petrol price was today cut by about 60 paise a litre and diesel by 56 paise on the back of softening global oil rates and strengthening Indian rupee.

A 1 paisa cut in the price in one day is nothing but making a mockery out of the common man who is bogged down by the prices increase.

Petrol price in Delhi was cut by 60 paise to ₹77.83 a litre. In Delhi, VAT on petrol is Rs 15.84 and Rs 9.68 a litre on diesel. "Since we moved to the mechanism of daily price change, prices have gone up and down by 1 paisa, 12 paise, 27 paise etc".

"The reduction was supposed to be 1 paisa but due to a clerical error the price prevalent on May 25 was communicated as today's price", a senior official of Indian Oil Corp (IOC), the nation's largest fuel retailer, explained.

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Potato farmers in Uttar Pradesh's Moradabad are incurring losses as they are not able to sell off their produce due to hike in petrol and diesel rates which is leading to increase in transportation prices. "All this will reflect in reduction in retail rates in coming days", he said.

The state government decision comes in the wake of fuel prices going up steadily in the last two weeks after Karnataka election. "1Paise reduced. Thank God for reducing the petrol price".

Delhi has the cheapest price among all metros and most state capitals.

In the past few days, petrol prices have increased across the country by over Rs 4 per litre.

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