Deora speaks of another round of fuel price cut

10 January 2009

The government proposes a further reduction in the prices of petroleum fuels to bring them in line with international rates, petroleum minister Murli Deora has said.

He said petrol prices may be cut by Rs5 a litre and diesel by Rs3 a litre while cooking gas (LPG) prices may be cheaper by Rs20-25 per cylinder.

Deora, however, said the exact extent of price reduction is likely to be announced in a week

"We have talked to Prime Minister, in coming days we are trying to reduce the prices of petrol, diesel and LPGs," Deora said.

Deora said it is likely to be announced in 10 -15 days.

The minister had earlier also indicated that the government may announce another round of fuel price cut soon. The government announced a reduction in fuel prices last on 5 December, following a cash in the prices of crude oil in the international market.