Govt may cut fuel rates today; CCEA meet likely this evening

The Govt is likely to cut petrol and diesel prices by Rs 4 and Re 1 a litre, respectively. The Cabinet Committee for Economic Affairs is expected to meet this evening to take this decision.

The government is likely to cut petrol and diesel prices by Rs 4 and Re 1 a litre, respectively, on Wednesday.

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The Cabinet Committee for Economic Affairs is expected to meet this evening to take this decision, given the cheap crude prices in the global market.

The government had last cut petrol prices on December 5 by Rs 5, and diesel rates by Rs 2 a litre.

Crude oil had climbed to a record high of USD 147 a barrel in July, but has since come to USD 40 a barrel level.