Centre Govt likely to cut petrol and diesel prices ahead of LS polls

The government is likely reduce the petrol and diesel prices ahead of the Lok Sabha polls as crude oil prices have also come down in the international market which will enable the oil marketing companies to bear the burden.

As per sources, the Ministry for Petroleum and Natural Gas has worked out various combinations and



permutations on the price cuts ranging from Rs 4 to Rs 10 per litre in the two fuels and the impact it will have on the oil companies.

The government is also looking at reduction in the excise duty on petrol and diesel so that the entire burden of the price cut is not borne by the oil PSUs --Indian Oil, Bharat Petroleum and Hindustan Petroleum.