Union Finance Minister Arun Jaitley today offered relief to the people from the skyrocketing oil prices by slashing oil duty by Rs. 1.50. The oil marketing companies will cut prices by Rs. 1 - a first since fuel prices were deregulated. The minister has appealed to the states to match the cut, so prices will come down by Rs. 5. The Congress called it "band aid" treatment. Petrol prices have touched Rs. 84 in Delhi and crossed Rs. 91 in Mumbai. Diesel has touched an all-time high of Rs. 80 in Mumbai and Rs. 79 in Chennai.