New Delhi: The Government may cut petrol, diesel and LPG prices on Thursday. It may also free fuel pricing from administrative control.
The Cabinet is meeting on Thursday and is likely to make petrol cheaper by Rs 5 a litre, diesel by Rs 2 a litre and LPG by Rs 25 per cylinder.
The government will raise additional revenues by increasing excise duty on petrol and diesel by a minimum of Re 1 per litre.
To make up for oil companies' losses on sale of LPG and kerosene on government-mandated prices, the Cabinet may issue an additional Rs 30,000-crore oil bonds this fiscal.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter and Google+)
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.