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Dec 29, 2008

Govt may cut fuel price

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The government of India may consider further cut in the fuel price as the crude price is stabilizing in the international market. According to media reports, 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.

The government had earlier this month reduced the price of petrol by Rs 5 a litre and diesel by Rs 2 per litre. The further cut in the fuel price would decrease the inflation rate further. Of late, the inflation has been decreased to 6.61 per cent. Any cut in the fuel price would be good sign as the price of crude in the international market is trading around $40 per barrel.

The price of crude was traded at around $140 in the mid year, while it has decreased to the price tag of $40 per barrel. This price of crude may constant for a long time. Considering the fall in the crude price the government may cut the fuel prices.


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