Govt. Considers Reduction of Fuel Prices.

Fuel prices are coming down in the World market. People are agitating the State to reduce the prices of fuel accordingly. Petroleum Minister  has submitted a formula to the Cabinet to change price of fuel based on prevailing world market prices. This Cabinet paper has already been referred to the Finance Ministry for observation, which would take more than a week. Already a week has  gone. In the meantime , Petroleum Minister has proposed a price  mechanism, which will be submitted in today’s’ Cabinet meeting. Finance Ministry’s observation on pricing formula already submitted is also expected to be submitted today. Hence, all possibilities are there that Cabinet will arrive at some decision  regarding future fuel prices. Petroleum Minister said that prices will be reduced within three  months.