Yes! It’s right! The government has finally given in and cut petrol diesel prices by a MASSIVE ONE PAISA!

This is truly historic.

I am feeling so rich suddenly that I am left calculating what to do with ALL the money I’ll save after the heavy cut of 1 paise.

This is the first time in 16 days we have seen a reduction in petrol and diesel prices, which has increased by Rs 3.8 per litre and by Rs 3.38 over the past two weeks respectively. This increase comes after the Karnataka elections during which the price revision was kept on a hold.

Clerical error or simply a prank?

This morning, the Indian Oil website first showed 60 and 56 paise a litre cut in petrol and diesel prices in Delhi. However, within a span of a few hours, those changes were deleted and instead a measly reduction of 1 paise a litre in both the auto fuels was announced.

“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,” news agency Press Trust of India reported, quoting a senior official of Indian Oil Corporation.

Amid all this, Congress president Rahul Gandhi took to Twitter to vent his frustration on Prime Minister Narendra Modi.

Not only Rahul Gandhi, the whole Twitter erupted. Humour and sarcasm ensued with people wondering whether this was Narendra Modi government’s attempt at comedy or an immediate solution.

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What was promised

When the global oil market was on the rise, forcing the oil marketing companies, the government moved to calm the public anger promising relief to the consumers.

This resulted in rumours doing the rounds that the government will resort to a cut in the excise duties on petrol and diesel which constitutes for a whopping 48% of the price. A possible solution for the long term was bringing petrol and diesel within the ambit of the GST, but this looks far from happening.

Union Petroleum and Natural Gas Minister Dharmendra Pradhan had said that the government will find a solution to the rising fuel prices in the country and pointed out the rise in the prices of petrol were due to factors like hike in the prices of crude oil in the international market.

“The government at the highest level is concerned about it and is taking the matter seriously,” he said, adding it will come out with a solution in three-four days” said BJP President Amit Shah on 22nd May

Looks like the solution was finally found and thus the 1 paise reduction in fuel prices.

The petroleum minister has told states to reduce their prices and follow the path of Kerala

Amid all the sarcasm, it’s Kerala who is serious

Kerala has always been the role model for other states. Being the state with the highest literacy rate as well as having the best health index throughout India, it has proved yet again to expect the unexpected from Kerala.

Kerala becomes the first state to announce a cut in fuel prices. From Friday, the prices of petrol and diesel will be reduced by Rs 1 in the state. Yes, you read that right. 1 Rs not 1 paise.

Chief Minister Pinarayi Vijayan, while making the announcement had a strong message for the BJP-ruled government at the centre.

The state exchequer would lose Rs 509 crore per annum by reducing the tax share by Rs 1 per litre. Any further hike on petroleum products in the state would be eligible for this one rupee cut per litre.

“Our decision to forgo a portion of the tax revenue, even during the period of financial precariousness should work as an eye opener for the union government, which, so far, has not taken any steps to control the fuel price in the country’’, Pinarayi Vijayan said.

The Kerala CM was the driving force in the state reducing the prices of petrol and diesel

Kerala was the state who levied the third highest taxes on fuel and now has decided to lower them, something all the experts have been crying for.

This reduction brought a heap of praise from Petroleum Minister Dharmendra Pradhan who appealed to all the states, whether governed by BJP or opposition, to try and reduce the prices of fuel and follow the example of Kerala.

Image Credits: Google Images

Sources: The Wire, NDTV, Scroll

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