The Indian Herald

The Indian Herald

January 29, 2009

Government reduces fuel price, LPG cheaper

The Centre has lowered the prices of fuel and LPG. The cost of one litre of petrol and diesel has been reduced by Rs 5 and Rs 2 respectively. LPG cylinder is now cheaper by Rs 25.

The decision came at the cabinet meeting that took place on late Wednesday night. The decision came in effect from midnight across the country. This is the second cut in the prices of diesel and petrol in two months.

The reduction in fuel prices was on the anvil for the last few weeks. The Oil Minister Murli Deora met Pranab Mukherjee today morning. Mukherjee is heading the cabinet meetings in the absence of Prime Minister Manmohan Singh who is recuperating after the heart surgery.

Deora had indicated that there could be a decision on slashing the prices in the evening meeting of cabinet. The global prices of oil have come down fast in the last few months, from a high of Dollar 147 per barrel.

The UPA government is also expecting that the move would help the Congress-led government in the upcoming Lok Sabha elections that are scheduled to take place in April.

TIH Bureau

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