The Hindu

• Diesel price has been reduced by Rs. 1.12  

Bangalore, Nov 30: Petrol will be cheaper by Rs. 2.23 and diesel by Rs. 1.12 in the State from Wednesday midnight following reduction in fuel prices by the Ministry of Petroleum and Natural Gas.

In Bangalore, petrol would cost Rs. 52.92 (pre-revision Rs. 55.15) and diesel Rs. 36.39 (Rs. 37.51).

The price of petrol would be Rs. 52.60 in areas adjoining Bangalore city. Officials of IndianOil Corporation told The Hindu that the reduction in prices would be on the same lines (Rs. 2.23 for petrol and Rs. 1.12 for diesel) for the entire State, except for a few minor variations.

Last hike

Prices of petrol and diesel were increased on June 5 by Rs. 4.49 and Rs. 2.25 respectively.

Prior to June 5, the prices of petrol and diesel were Rs. 50.66 and Rs. 35.26 respectively.

Welcomed

President of the Petroleum Dealers' Association of Karnataka Bhushan Narang said that the dealers were very happy with the reduction in prices.

The reduction would reduce the investment on business, cuts down the evaporation and handling loss and brings in more business, as customers would buy more, he noted.

People happy

The customers too were happy with the move.

Truck driver Narasimha said, "I feel it is great that they are reducing the prices. It will mean less expenditure for me."

Dharmaraj, a salesman, said it was a right move. India should follow the international crude prices and whenever there was fluctuation, the prices here should vary.

Vidya, a software engineer who regularly uses her car, said, "It's really good. I'm really happy."

Dolly had a different feeling, however.

She said rates should be standardised as otherwise the fluctuation would affect the common man.