India cuts prices of transport, cooking fuel (Lead)January 29th, 2009 - 12:57 am ICT by IANS
New Delhi, Jan 28 (IANS) India Wednesday allowed its state-run petroleum retail companies to cut the prices of gasoline, diesel and cooking gas. Petrol will now be cheaper by Rs.5 a litre, diesel by Rs.2 and cooking gas by Rs.25 per cylinder.The decision was taken by a meeting of the cabinet, presided over by External Affairs Minister Pranab Mukherjee. The cuts in fuel prices will be effective midnight Wednesday.
“It has been decided to reduce the price of petrol by Rs.5 a litre, of diesel by Rs.2 a litre and LPG (liquefied petroleum gas) by Rs.25 per cylinder,” External Affairs Minister Pranab Mukherjee told reporters after the meeting that lasted nearly four hours.