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Fuel prices to be reduced within a week: Deora

New Delhi, October 23:: In what could be a Diwali gift for the common man, government on Thursday said in the Lok Sabha that an announcement on reduction of fuel prices will be made within a week, keeping in view the falling global crude prices. "The matter is being examined and an announcement would be made within a ....Read more

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fuel prices regBy: mohana | Friday , 24 Oct '08 9:53:44 AM Reply | Forward very good decision. pls apply this ASAP.

Politics is poison and not giftBy: P. Suresh | Friday , 24 Oct '08 9:16:45 AM Reply | Forward Politics is poison and not gift to common man. Price raise should not have been resorted to at first place. Three fold raise and reduction by a third is still profit of two parts!!!!Need is to have sustainable, simple ways of living. Need is to retain planet earth as platform for forms of life and sustain it perpetually for ever and ever and ever.

Lets get the price of fuel down to where it is affordableBy: Sanjeev | Friday , 24 Oct '08 8:52:56 AM Reply | Forward So that means we should now be able to get the price down at least for the time being at INR35 to INR38 per litre on Petrol and around INR28 to INR30 per litre on diesel??????????

Oil, now goldBy: Chandran Nair | Friday , 24 Oct '08 3:10:01 AM Reply | Forward I would like to add as follows to my letter, restricted by space limit : Do we understand that exorbitantly priced oil is more real than a bearish tendency now and then? Matthew Symmonds of Godman Sachs, who had predicted $100 bl during early 2007, now says, even after the present dip, that $500 bl is not unlikely, in say, two years! Many comments on the story by readers entered here reflect these anxieties, please note- proof that only the politicians are Ostrich like..

Oil is gold nowBy: Chandran Nair | Friday , 24 Oct '08 3:03:11 AM Reply | Forward While the oil consuming world is in the herculean effort of understanding the problem of this energy source, we in India have manged to project it as something trivial, to be manipulated through fixing fuel prices once in a while, with politics (of mostly by elections) as the main factor! Are the decision makers aware of professional oil men's fear that the end of 'Oil Age' could be imminent? Have the public been intimated that in the past few years of this millennium,yearly rate of world oil production increase has been pushed way behind increase in demand, with no guaranteed improvement possibilities in sight? Have we an over all policy on the oil(no, energy itself) crisis, starting with new sources, efficiency of oil utilization, conservation, replacing the prevalent practice of encouraging private transportation( establishing a strong automobile industry, with SEZ sprotection, and retailing growth through easy financing and commercial advertising) with efficient, public systems?

Susidies and Ad initiativeBy: Rajat | Thursday , 23 Oct '08 20:48:08 PM Reply | Forward Govt. sponsers AD should be provided as a subsidy to Fuel and Power Saver companies provider, things like good quality spark plugs should be supported. No use to rollback prices and increase them again. Lets make zero emission vehcile / power statitions with zeros co2 output, taking cue from Europe. Use bio disel etc.

hope it's not a populist mave By: M.M.NAAZIM | Thursday , 23 Oct '08 19:45:09 PM Reply | Forward Govt should reduce the price of petrol to Rs 45.00 per liter as it used to be before when per barrel was at USD 80 . Reduction in price should be done after assessing the trend , after OPEC meeting , which will affect the Intl market price again . DEFINITELY IT WILL BE A BIG RELIEF TO THE COMMON MAN . A GOOD MOVE by the minister .

Fuel PricesBy: Mandar | Thursday , 23 Oct '08 16:53:40 PM Reply | Forward In my opinion, Govt. should foresee in long term, instead of deeply reducing prices immidiately at this point of time, they should try and stick to a certain baseline, where they can sustain or absorb the global crude price hike in the near future, and comon man can be sure of the steady and consistent fuel prices.

fuel price cutBy: ramesh | Thursday , 23 Oct '08 16:18:02 PM Reply | Forward OPEC is likely to announce a cutdown in production in the next few days. The impact of a cutdwon in production remains to be seen. Any decision to reduce fuel price should be taken after OPEC decision impact is known.

Need for lowering fuel pricesBy: V. Shankar | Thursday , 23 Oct '08 15:27:30 PM Reply | Forward There is an urgent need for the government to bring down the fuel prices significantly. Firstly, this would signify that the government has kept its promise to lower the prices when the crude price drops to $67 per barrel. Secondly and more important, it would ease the inflationary pressures quite a bit. In the context of turmoil in the global financial system, our government needs to seize every opportunity that comes its way and draw up innovative financial management initiatives to buck the global trend. India is uniquely positioned to do this. The CRR and repo rate cuts announced last fortnight has laid the foundation for bolder initiatives. Immediate measures, such as further cuts in repo rates and CRR, coupled with firm commitments on stepping up investments in infrastructure, healthcare and education sectors, would lift the battered sentiments all around and revive the economic growth engine. India can do it; the question is will it? The PM and FM owe it to our nation to do so.

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