Reduction in petroleum prices opposed by Finance and Petroleum ministries
According to details, a reduction in prices of petroleum was recommended by as much as Rs. 4.61 per litre as far as petroleum products are concerned. The price of high-octane was recommended to be reduced by Rs. 5 per litre, price of kerosene oil by Rs. 4.72 per litre and that of light diesel by as much as Rs. 5.10 per litre.
However, the government has opposed the cut in prices of petroleum products in the very first phase of the process.