This comes a day after, Union oil minister Dharmendra Pradhan had voiced optimism that petroleum products will be brought under the GST purview that will help in checking volatility in fuel prices. “In the long run, petroleum products are bound to be included within the ambit of the GST regime … It is only a matter of time. It will immensely help in containing prices of petrol and diesel,” Pradhan told reporters in Bhubaneswar.
The continuing slash in prices comes after 16 consecutive days of hike following the Karnataka polls, which ended earlier in May. From May 14th onward, petrol prices were hiked continuously till May 29th, following which there was a 1 paisa reduction on May 30th. Following May 30th, there have been more meaningful cuts in petrol prices across the country, with today being the ninth consecutive day of a price slash. Notably, in the 16 days of hike, petrol prices zoomed up by more than Rs 3.7 in the major metros.
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