India's Fuel Prices May Go Down Further

India's Minister for Oil, Murli Deora, said it's possible fuel prices may go down further by Rs -- five for petrol and Rs 3 for diesel.

In the words of Deora, the final decision on the price cut would be taken in the coming weeks and the government will try to reduce the fuel price of petrol and diesel in the next 2-3 weeks.

The current global meltdown affected the international crude oil prices (which has come down to $40 per barrel), therefore resulting in a second round of fuel cut in India. This decision will further add benefits to the car the car manufacturers as well as the vehicle owners. The car sales is also expected to grow despite the hike in the car prices.

It was recently in December that prices of fuel were reduced. Another round of price cute in such a short period will help and support support the people in the current economic crisis.