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Petrol worth reduce: With common elections doubtless within the first half of 2024, Prime Minister Narendra Modi-led Centre is contemplating discount within the costs of petrol, diesel quickly, authorities sources instructed Enterprise At this time TV on Thursday.
The value discount is more likely to be within the vary of Rs 4-Rs 6 per litre, mentioned sources.
Discussions are underway with Oil Advertising and marketing firms to offer the reduction to frequent man and a proposal is into consideration for presidency and OMCs to bear equal burden of worth reduce, the sources added.
Centre can also mull increased reduce of as much as Rs 10 per litre. A gas worth reduce can even dampen the retail inflation that rose to a three-month excessive of 5.55% in November.
Petroleum Ministry and Finance Ministry held discussions not too long ago and submitted choices to Prime Minister’s Workplace relating to this. These two ministries maintain discussions each fortnight on gas costs.
Sources mentioned Union authorities is in favour of gas worth reduce as crude oil costs have been hovering within the vary of $70-$80 per barrel for final three months.
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