Fuel prices may drop further, says Pradhan
State-run oil marketing companies have recently cut petrol, diesel and cooking gas rates, and fuel prices may fall further in the near future, Union petroleum minister Dharmendra Pradhan on Sunday said in Kolkata ahead of the third phase of polling for the assembly elections in West Bengal.
Fuel prices were frozen since 27 February immediately after the Election Commission (EC) announced assembly elections in five states. But public sector retailers have reduced petrol and diesel rates in three small doses—by 61 paise per litre and 60 paise a litre, respectively—since 24 March. State-run companies cut cooking gas price by ₹10 a cylinder last Thursday.
“In last few days, petrol and diesel rates have started falling. We had said earlier that when crude oil prices will fall in the international market, we will pass on the benefit to the consumer… Price of LPG (liquefied petroleum gas or cooking gas) has also started falling. It will fall further in coming days,” Pradhan told reporters.
