The Cabinet Committee on Political Affairs (CCPA) presided by External Affairs Minister Pranab Mukherjee, in the absence of Prime Minister Manmohan Singh, took the decision to cut the prices in the wake of reduction in the global crude oil prices. Official statement released last night said that the new prices will be effective from Wednesday, Jan 28 midnight.
Pranab after the four-hour meeting said, "We have taken a number of important decisions. These will be conveyed later. But let me tell you we have decided to cut the prices of petrol by Rs.5 per litre, diesel by Rs 2 and LPG (liquefied petroleum gas) by Rs 25 per cylinder."
Petroleum Minister Murali Deora said that the government had decided to pass on the benefits of the softening international crude oil prices to the consumers.
The fuel prices were reduced earlier in last Dec, but the cost of LPG was kept unchanged, despite the demands from UPA's coalition partners. Union Railway Minister said, "We want to give relief to housewives."
OneIndia News (With inputs from Agencies)