In what can be termed as an insult to the common man of India, Indian Oil Corporation (IOC) has reduced the Fuel Prices by One Paisa Per Liter. After a constant hike for over 16 days, petrol and diesel prices have dipped for the first time by 1 paisa.
Oil Companies have absorbed the Price Hike for 19 days to prevent Public Backlash for BJP during the Karnataka Elections. The rise was seen soon after the Karnataka elections were held, the price went up by Rs 3.79 per liter for petrol and by Rs 3.37 for diesel.
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. But then, it has become common for the people to get whipped by the Government in the name of Price Hikes and Taxes / Duties.