Fuel price cut under consideration: Deora

The Petroleum Minister Murli Deora on Monday said the government was considering passing on the benefit of the fall in international crude oil prices to consumers, according to media reports.

The government had earlier this month reduced the price of petrol by Rs 5 a litre and diesel by Rs 2 per litre. The crude oil is sliding below $40 a barrel in the international market, considering the slide in the price of crude in the international market, the government of India may consider further cut in the fuel prices.

The media reports quote that there was further scope for cutting the petrol price by up to Rs 11 a litre and diesel by Rs 3 per litre. This would be a great relief for the people as on one hand the inflation is decreasing and cut in fuel price would have positive impact on prices and market.