Govt hints at reduction in petrol prices

There could be a silver lining in the clouds of uncertainty over the global financial world that faces turmoil after US downgrading .

As markets crashed globally, taking a cue from the US, the international crude prices have come down to 79 dollars a barrel.

Govt hikes diesel, LPG, kerosene prices

Now, the Petroleum Ministry has indicated that there is scope for reduction of Rs 1.65 per litre of petrol.  

The ministry's move comes after the Finance Ministry sent a note asking for the scope to reduce petrol prices in view of the slide in crude.