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Fuel prices to be reduced within a week: Deora

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    • Agencies Tags : Petroleum Minister, Murli Deora, fuel price, global crude prices Posted: Thursday , Oct 23, 2008 at 1338 hrs
    Murli deora
    Fuel prices reduction, in line with decline in the global crude prices, will bring a welcome relief for 'aam admi.'

    When price comes down to 67 dollars a barrel, then oil companies are breaking even, Chidambaram had said.

    BJD member Braj Kishore Tripathy asked "what is the policy of the Government when global crude prices have declined."

    Deora said the government was waiting for further reduction in global crude prices and would consider the matter later. But as members got agitated and wanted an immediate response, he said a decision would be announced within a week.

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    fuel prices regBy: mohana | 24-Oct-2008 Reply | Forward very good decision. pls apply this ASAP.
    Politics is poison and not giftBy: P. Suresh | 24-Oct-2008 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 | 24-Oct-2008 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 | 24-Oct-2008 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 | 24-Oct-2008 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?
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