Govt cuts petrol, diesel prices
The UPA government finally cuts the fuel prices as expected. The government has decided to slash prices of petrol, diesel by Rs 5 and Rs 2 a litre with effect from midnight Friday, the first in over two years.
The crude price in the international market has been decreasing. Considering the fall in the international crude price the government of India has reduced the fuel prices with effect from midnight of Friday.
This will be a big relief for the people as the inflation has also decreased to 8.4 per cent this week. While inflation was at 8.9 per cent in previous week. The fall in inflation rate and the fuel price cut will give some respite for the economy and the people. Earlier, the petroleum minister had indicated about the chances for the cut in the fuel prices. But there will be no change in the price of LPG, according to media reports.
The crude price in the international market has been decreasing. Considering the fall in the international crude price the government of India has reduced the fuel prices with effect from midnight of Friday.
This will be a big relief for the people as the inflation has also decreased to 8.4 per cent this week. While inflation was at 8.9 per cent in previous week. The fall in inflation rate and the fuel price cut will give some respite for the economy and the people. Earlier, the petroleum minister had indicated about the chances for the cut in the fuel prices. But there will be no change in the price of LPG, according to media reports.
posted by Neel @ 7:45 PM
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