PEOPLE AROUND the country who use petrol for transportation have been very disappointed due to the continuous petrol price rise hike in the year, 2011. The last hike took place on November 4, when the petrol price was increased by Rs 1.8 per litre. The price of petrol has been increased four times since January 2011, which is proving very expensive for the aam admi.

The news of possible reduction in petrol price is likely to please many car and bike users across the country, reported rediff.com. The price of petrol may see a decrease in the coming week itself. The price may dip by 0.80 paise. This will happen as global oil prices went down sharply on Friday. The price for petrol in the international market has seen a decrease - while it stood at $123 per barrel last month, it has now decreased to $115 per barrel.

The price decrease will, in all probability, benefit those who travel on a daily basis. Pravin, who resides in Dwarka says, “It is a sigh of relief as one can save this money and use it for important spending decisions - especially when the cost of various grocery items is on the increase."

With this decrease, political parties protesting against the recent price rise, and blaming the ruling UPA coalition government for it, will be put on the backfoot. But, we never know, when the next price may take place, especially in India, which last witnessed price cut in January 2009.

Anand Rawat, who travels from Delhi to Gurgaon for work on a daily basis says, “Even if it decreases, it does not matter as the prices have been increasing every now and then, so we can expect another rise in the price, before the year ends.”