Fuel prices will be cut after Dec 24: Deora

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New Delhi, Nov 25 (UNI) Taking into account the softening of international crude oil prices, the government may take a decision to cut fuel prices towards December-end, after the ongoing Assembly election are over, Petroleum and Natural Gas Minister Murli Deora today said.

''Crude oil has fallen. We should reduce prices but we cannot do it before December 24 because of the code of conduct,'' Mr Deora told reporters here.

Six states are in the process of electing their new assemblies and the entire process will be completed by December 24. The code of conduct for the assembly elections bars any vote-winning policy moves.

The government did not cut the fuel prices, which were raised by about 10 per cent at the time of crisis, despite the fall in international crude oil prices from its peak of 147 dollars a barrel to below 50 dollars a barrel last week.

However, Petroleum Secretary R S Pandey said his ministry will send a proposal for reduction in prices to the Cabinet before December-end.

Earlier, Mr Deora had said that a price cut was under consideration after the global slide in crude prices.

Finance Minister P Chidambaram yesterday threw the ball into Petroleum Ministry's court, saying it is their call on fuel price reduction .


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