I am just wondering, since the cost of building materials like cement bricks etc increase because of the previous fuel hike, now the fuel price has gone down, will the price go down as well?

The damage will never be undone.
First they raise fuel price, then everything has the reasons to raise prices.

Then the govn' lessen the fuel price to give a "good impression" to the public, but did they control and reduce the food prices as well? No. This is part of their plan. They can subsidize ur fuel no prob. So where the subsidiary comes from? From the raise in ALL other items the govn' gets more income tax and subsidizing fuel price is just a minor now. They are making business if u see.

Doubt the price will come down but at least i think the price will be stable for a period of time.

Price of building materials have come down a bit from the peak, but still higher than prices before the fuel hike.