Many expectations had been laid down on the government of Narendra Modi, and one of these major expectations was the reduction in the fuel price. People had high hopes for a drop in the prices of petrol, diesel, LPG, and CNG after Modi Government came to power. So, the basic trend in petrol and diesel prices in India in 2014 is mentioned below:
1. Petrol
It was the month of January 2014 when the petrol price hiked by 75 paise a litre. A similar trend of hiking was followed in the month of February with prices increasing by 60 paise per litre. There was a price cut of 75 paise per litre in March, followed by a whopping hike of Rs. 1.69 per litre in June. This hike was followed by cuts of Rs. 1.09 in July, Rs. 1.82 in August, Rs. 0.65 in September and Rs. 2.41 in October. Recently on 15 December, another cut of Rs. 2 per litre was announced, thus, making the price of petrol decrease by Rs. 5.68 per litre in this year.
2. Diesel
The trend in diesel prices was not so good for the initial months as there was a continuous hike of 50 paise per litre in the months of January, February, May, June, July and August. A sigh of relief could be taken after that as the prices fell down by Rs. 2.25 per litre in October followed by Rs. 2 per litre in December. This added up to a decrement in the diesel prices by Rs. 1.25 per litre in 2014.
