“Petrol and diesel prices go down by 1 Paise, previous news was an error” says Indian Oil corporation.


The jokes on the common people with the increasing petrol and diesel prices, the common people were definitely not expecting the “Aache din” to make them cry oceans.

Just a few days back the petrol and diesel prices were hiked and the decision was criticized with arguably lower prices throughout the world and neighnouring countries. The increased tax has significantly affected the life of the middle class.

However there was a sign of good times when the prices were marginally lowered on Wednesday, after sixteen days of consecutive hikes.

The Indian Oil Corporation announced that the prices are reduced by 60 paise and just when the people thought soon the prices will go down the Indian Oil Corporation announced that the previos news was wrong and the prices are just going down by 1 paise.

The marginal reduction of 1 paisa per litre comes in the wake of some softening in global crude prices. Indian Oil Corporation had earlier on Wednesday announced the reduction to be in the range of 56-63 paise a litre on its website.

However, within hours, India’s biggest oil marketing company revised the prices on its website. “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 cited a senior official of Indian Oil Corporation as saying.