Govt to mull cutting petrol, diesel prices

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

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

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"We are keeping our pulse on the international price scenario. Certainly, we will consider a revision if prices fall further," Petroleum Secretary MS Srinivasan said.

International oil prices have fallen to a six-month low of 53 dollars 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.