Govt to slash fuel prices: Deora

Kochi, Dec 30, 2008: Union Petroleum and Natural Gas Minister Murli Deora has said that the government has decided to bring down the prices of petrol, diesel, kerosene and LPG further following the fall in international oil prices. Deora added that the announcement could be made in a few weeks. 

He was speaking here during a function to facilitate Hibi Eden, who was recently elevated as president of the National Student Union of India (NSUI), the student wing of the Congress. 

Deora said that oil prices in the international market had come down to USD 37 to USD 38 a barrel. 

He pointed out that the government hadn't raised the kerosene price even at a time when the crude oil price was at a record high as the poor people depend on it. 

In a dig against the Left parties, which have been agitating for a further cut in the price of petrol and other products, Deora said that during the galloping rise of oil prices, the government exchequer had shelled out Rs 58,000 crore as a shield to counter the cascading effect of high oil prices.