Petrol Prices to go Down Further: Pranab Mukherjee

Petrol prices are to go down further, Union Finance Minister Pranab Mukherjee gave a hint on Saturday. He said the cut is possible as the international price of crude oil has come down. After the sharp criticism over the steepest hike, petrol price was cut by Rs.2 per litre last week, a partial rollback of the Rs.7.54 a litre increase affected earlier.

The decision had brought some relief for consumers battered by double-digit inflation and the May 24 hike which was the steepest ever that came on top of two increases in a year. The May 24 hike had come under sharp attack from all political parties including allies like TMC and DMK and some ministers in the UPA and there was all-round demand for a rollback.