Indian Government cuts fuel prices
In nearly two months, its second reduction the government cut fuel prices up to 11 percent. Since last July crude’s price falls below $100. In mid-January reduced prices to reflect changes in global crude rates and unveiled measures to promote fuel efficiency.
The price of petrol was lowered by 11 percent that is 5 rupees per liter, while diesel will be 6 percent that is 2 rupees cheaper from the current retail price. The cuts would become effective midnight said by Oil Minister Murli Deora.