The auto fuels and cooking gas prices could be reduced by the Government in a fortnight. The government is considering reducing the prices of petrol by Rs 5 a litre in line with diesel by Rs 3 a litre and Rs 25 on the domestic LPG cylinder.
The Government earlier had cut prices. The retail selling price of petrol was slashed by Rs 5 a litre and diesel by Rs 2 a litre.
Mr Murli Deora, the Union Petroleum Minister while addressing a press conference on Saturday said that he has spoken to the Prime Minister about the issue. "We want to further decrease the prices, give us 10-15 days.
The National oil companies can now afford to reduce the prices as the crude oil price.
Mr Deora said that from the current quarter, the oil marketing companies could start making the profits provided the crude price remains below $40 per barrel, If the crude oil price increases beyond $40, then the profits will not happen, he said.
The Government earlier had cut prices. The retail selling price of petrol was slashed by Rs 5 a litre and diesel by Rs 2 a litre.
Mr Murli Deora, the Union Petroleum Minister while addressing a press conference on Saturday said that he has spoken to the Prime Minister about the issue. "We want to further decrease the prices, give us 10-15 days.
The National oil companies can now afford to reduce the prices as the crude oil price.
Mr Deora said that from the current quarter, the oil marketing companies could start making the profits provided the crude price remains below $40 per barrel, If the crude oil price increases beyond $40, then the profits will not happen, he said.
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