Minister of State (MoS) in the Prime Minister's Office (PMO) Dr. Jitendra Singh on Thursday said that the decrease in petrol prices is great news and added that it reflects the stabilization of prices in an orderly fashion.
"We always said that the prices will stabilize in an orderly fashion, the decrease in petrol prices is great news," said Singh.
Earlier today, petrol price was decreased by rupees 1.09 a litre, while the price of diesel was hiked by 50 paise per litre.
This is the first drop in the prices of petrol since April.
However, the increase in the price of diesel is as per the January 2013 Government directive to increase diesel prices.
The revised prices will take effect from midnight.
