Govt May Soon Cut Fuel Prices By Rs 4-5

Govt May Soon Cut Fuel Prices By Rs 4-5

Fuel prices may soon be cut by Rs 4-5 in most parts of the country, if the central government goes ahead with a plan that involves a marginal cut in the excise duty on the fuel, and provided it is successful in its efforts to convince states to cut the Value Added Tax on fuel and oil marketing companies to take a cut in their commission on sales.

Rising oil prices: Govt will have to bite the bullet sooner than it wishes to

Rising oil prices: Govt will have to bite the bullet sooner than it wishes to

The retail prices of petrol and diesel eased a bit on Tuesday, a day after rising for the 16th straight day to touch a new high, fuelling more resentment and anxiety among consumers across India. Apart from a token cut in the excise duty rates, the government has so far adopted a wait-and-watch approach to an issue that has serious economic and political consequences.