While the Congress-led UPA II government is fighting for its survival, thanks to the coalgate controversy, the oil companies sought to give it some breather by reducing the petrol prices by a massive Rs 3 per litre.
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Recently on April 13, the petrol prices were slashed by Rs 1 per litre. However, such a massive reduction of Rs 3 per litre while Karnataka polls are round the corner, has raised eyebrows.
The reduction in petrol prices has been attributed to fall in global crude oil prices and appreciation of Indian Rupee against the USD. The global oil prices have now gone down to $107 per barrel. In another development, price of the non-subsidized LPG cylinders has been reduced by Rs 54.