Petrol and Diesel Prices Latest News: In a strategic move to counter the recent surge in inflation rates and alleviate the burden of Equated Monthly Installments (EMIs), the Indian government is contemplating a reduction in the prices of petrol and diesel, with plans set in motion for implementation from January. The decision comes at a time when there has been a noticeable decline of over 3 percent in crude oil prices, providing a favorable backdrop for the potential price cut.
Fuel prices in the country remained unchanged on Wednesday as oil marketing companies decided to wait for state elections to get over before restarting daily revision of petrol and diesel prices in line with price movement globally. Sources indicated that price revisions may begin early next month after results to state elections are declared. However, whether price of petrol and diesel would move up or down would depend on average global price in the last fortnight of March. With no price change on Wednesday, pump price of petrol and diesel remained at Rs 90.40 a litre and Rs 80.73 a litre respectively in Delhi. This is the 14th consecutive day when fuel prices have not been revised.
Read more about Centre, states need to think about reducing taxes on petrol, diesel: Thakur on Business Standard. Minister of State for Finance Anurag Thakur on Monday said both the Centre and the states need to think about reducing taxes on petrol and diesel
Read more about Lok Sabha fails to transact legislative business for second consecutive day on Business Standard. Lok Sabha proceedings were repeatedly adjourned Tuesday