New Delhi: The government may cut fuel prices on Thursday.
Petroleum Ministry sources say the Cabinet is likely to discuss fuel price cut along with the additional excise levy and decontrol of pricing.
Petrol and diesel prices were last reduced in December by Rs 5 per litre and Rs 2 per litre, respectively, as global crude prices fell to a four-year low.
“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,” Minister of State for Petroleum and Natural Gas Dinsha Patel said at an international oil and gas conference (Petrotech) on Monday.
Oil ministry officials have said in the past that the Government was considering a new tax regime for the oil sector to compensate state-run firms for subsidised sales of kerosene, used for lighting by the poor, and cooking gas.
Comments
0 comment