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"We have to reduce the prices and we will do it. It will happen in 10 days as some consultations with finance ministry are needed. Middle-class and farmers have to be given relief... how much is to be decided at the appropriate level of the Cabinet," he told reporters on the sidelines of the Petrotech conference here.
Petrol and diesel prices were cut only in December by Rs 5 a litre and Rs 2 per litre, respectively, as global crude prices fell to four-year lows.
International oil prices have been hovering at that level for a while and have prompted the government to think of another round of price reduction.
"We will do it as early as possible. We will give maximum relief to farmers and middle-class," Patel said.
Petroleum Minister Murli Deora had said in Mumbai on Saturday that petrol, diesel and LPG (cooking gas) prices could be reduced by Rs 5 a litre, Rs 3 a litre and Rs 25 a cylinder, respectively.


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No use..The busfares,railway fare, airfare , milk commodities like tiloil,Other edible oils,pulses ,consumer goods like soaps,building materials like cement will not reduce.Congress and other state governments need bulk money from industrialists.
Our Petrolium Minister is The Best man for Lottery Selling Because ,He told Daily 'We will cut the Pertol price NEXT DAY "
When the oil prices were at $147 and the oilcos were losing 500 cr every day no body was concerned about the financial health of the navratnas cos elections were due in 5 states. the oil officers demand had an impact of 100 cr per month but the netas and babus became concerned of its financial health. they don't blink when using perks from PSUs. Now that general elections is round the corner they want to reduce oil price. Is the common man so naive to get fooled by such gimmics? JAGO BHARAT... warna tumhari tel nikal jayegi. If media is as honest as they pretend to be I dare them to have a open forum discussion with OSOA on the real issues leading to oil strike.
Jaldi karo bhai...This is bit of good news to us amid most of the sordid news going around.
If it has to increase the fuel prices the UPA govt wait sfor the elections are over and to reuce it wait sfor the elections to come.The much publicicsed redution will be announced on the eve of parliament elections of course before the model code of conduct comes into effect.Now thw crued prices ia stable and not likely to go up as in the past due to ressession in US Govt should stop administered price mechanism and allow the cos to fix it as per crude price as in the other countries.
Whether international prices hover around same levels or increase, Congress party has to woo the masses ( middle class
Its only in India that such trickish policies are made to exploit and plunder common people.Why the hell it must be decided by the Govt to cut oil prices in free trade in a democratic country.The prices of such commodities must change automatically every day with the change of international price index like gold and silver etc.One barrel of crude was around 148 US dollars around four months back and now since two months the oil is down to 42 dollars a barrel(which means less than one third)and reducing diesel two rupees and petrol by 5 Rs is ridiculous.Moreover in free market the prices are to be decided by the companies and major dealers.The Govt must check and control that they must abide by the rules with fluctuations of world market but keeping its own tax impositions in tact.
This is a good way of reducing the nation's fuel consumption. People will wait to consume fuel for the prices to come down.
The Congress Government doesnot resolve any issues. The Issues are generally solved by itself. The CentralGovernment enjoys on the peoples suffering. How one can expect results of reducing the fuel prices? If fuel prices are reduced, then all other prices will also be reduced. This situation will make the people comfortable, which is against the desire of the Central Government.
Can any one recall for how many days now we have been fed with this statement that 'fuel price will be cut in few days'. The fact is for majority of problems, including oil PSU strike and truckers strike, are culmination of non action by policians and babus. Can any one recall for their no action or wrong decisions any politician or a babu has been penalised? They enjoy all the authority and powers without responsibility. It is time honest and dedicated politician like PM looks into this. Let there be performance review of each ministry on pre-declared goals, then non performing ministers and babus are shunted.
If GOV. is really intrested in reducing the oil prices,they should do as early as possible . that will help people like us very much.
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