Fuel prices is again to see an another round of reduction. The petrol price is expected to come down by Rs 5 per litre, whereas the diesel will be cheaper by Rs 3.
Oil Minister, Murli Deora, announced the posibility of cut in the fuel price in next few weeks. He said, “In the span of 2 to 3 weeks the fuel prices are expected to come down.We will try to reduce the prices of petrol and diesel in the next 2-3 weeks,"
The reduction in international crude oil prices (which has come down to $40 per barrel), resulted in a second cut in the domestic prices. This decision will further add benefits to the car manufacturers as well as vehicle owners. The car sales is also expected to grow despite the hike in the car prices.
In the month of December, the fuel price were cut down and the second round of cut will cushion people from the impact of current economic crisis.