Govt to mull cutting petrol, diesel prices

The Government will consider cutting petrol and diesel prices, if crude oil prices fall below $50 a barrel.

By PTI | Jan 09, 2007, 10.20 AM IST

NEW DELHI: The Government will consider cutting petrol and diesel prices, if crude oil prices fall below $50 a barrel.

"We are keeping our pulse on the international price scenario. Certainly, we will consider a revision if prices fall further," Petroleum Secretary M S Srinivasan told reporters here.

International oil prices have fallen to a six-month low of $53 a barrel, but public sector oil firms continue to make a loss of Rs 0.22 per litre on petrol and a loss of Rs 1.42 a litre on diesel, he said.

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