No Fuel price cut expected till February

December 22nd, 2008 - 10:38 pm ICT by IANS  

New Delhi, Dec 22 (IANS) The government will not take a decision on further reduction in fuel and cooking gas prices soon, a senior petroleum ministry official said here Monday.”The government will wait till February (next year) before making another round of price cuts,” the official said here Monday.

The government earlier this month reduced petrol price by Rs.5 per litre and diesel by Rs.2 per litre.

Oil prices have dropped nearly $100 in international market since July, when crude prices reached a high of $145 per barrel (159 litres).

According to officials, the ministry would prefer to wait to monitor the international prices. “There is no point in cutting fuel prices just now and then having to raise it again if oil makes a retreat,” he said.

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