Petrol and diesel prices to be reduced today

The government is likely to cut petrol and diesel prices today.

• The prices are expected to be reduced by Rs 4 and Re 1 a litre, respectively, for petrol and diesel
• The government had last cut petrol prices in December by Rs 5, and diesel rates by Rs 2 a litre.
• Crude oil had climbed to a record high of USD 147 a barrel in July, but has since come to USD 40 a barrel level.

The decision was expected for two reasons – one the crude prices have gine down and two the election dates will be announced soon and government will sure try to keep prices low.

Despite that the crude prices have become ost 1/4th of what they were earlier – the prices of petro products in India have not been reduced in similar proportion.

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