Fuel prices to go down again in India!

Fuel prices to go down again in India!

India’s Petroleum and Natural Gas Minister Murli Deora has hinted that the government is close to announcing yet another price cut on petrol and diesel.

They also might cut the prices on domestic Liquefied petroleum Gas in this latest round.

This latest price cut can be announced in the coming weeks.

Deora was quoted as saying to media personals: “We are currently reviewing the situation in view of the movement of crude oil prices in the international market. Things have started to stabilize and we will try and reduce prices may be in the next fortnight or so. But a final decision will be taken by the Union Cabinet after consultations”.

The government recently cut the prices of fuel after crude oil became much cheaper. The cut was Rs 5 on Petrol and Rs 2 on Diesel.

Global crude prices have continued to remain low and this has enabled the government to consider this second price cut.