The Hindu : National : Fuel price cut likely in 10 days, says Minister

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Tuesday, Jan 13, 2009
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Fuel price cut likely in 10 days, says Minister

Sandeep Joshi

NEW DELHI: The government is likely to cut the fuel prices in the next 10 days as the middle class and farmers have to be given maximum relief (from the steep drop in international crude prices), Minister of State for Petroleum and Natural Gas Dinsha Patel said at an international oil and gas conference (Petrotech) here on Monday.

“We have to reduce the fuel prices and we will do it at the earliest. It will happen in another 10 days or so, as some consultations with the Union Finance Ministry are needed. The middle class and farmers will be given the maximum relief,” Mr. Patel said. He, however, refused to comment on the quantum of the reduction. “We have to consult the Finance Ministry on this. The amount of reduction will be decided at the appropriate level of the Cabinet.”

On Saturday, Petroleum and Natural Gas Minister Murli Deora said the government was working on a price cut and it would make an announcement within 10 or 15 days. The government is likely to reduce prices of petrol, diesel and LPG by Rs.5 a litre, Rs.3 a litre and Rs.25 a cylinder respectively, in view of the steep drop in international crude prices.

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