Government reduces prices of Petrol & Diesel by Rs.2 & Rs.1 Per litre from tonight

The Prime Minister held a meeting on 14.2.2007 with the Finance Minister and the Minister of Petroleum & Natural Gas.

Shri Murli Deora also met the Chairperson of the UPA, Smt. Sonia Gandhi and apprised her of the prevailing international oil situation. Smt. Sonia Gandhi reiterated UPA Government’s commitment for protecting the interest of common man and specially the weaker section from the impact of high international oil prices.

Keeping the totality of circumstances in mind it was decided that the prices of petrol and diesel will be reduced by Rs. 2/litre and Rs. 1/litre respectively from the midnight of 15/16.2.2007. The Petroleum Minister stated that this decision is in line with his commitment that the prices of petroleum products will be reviewed if international crude oil prices stabilize.

The burden of this price reduction will be met partly by Revenue and partly through oil bonds already approved by the Government.

After the reduction retail selling price at Delhi for petrol will be Rs. 42.85/litre and Rs. 30.25/litre for diesel.

Source : Press Information Bureau

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