Economy

Petrol prices cut by Rs. 5, Diesel by Rs. 2

Dec 05, 2008

As of Friday midnight, four hours from now, the prices of Petrol and Diesel in India will be down by Rs. 5 and 2, respectively.

A cut in diesel prices is expected to soften prices of fruits, vegetables, food grain and industrial products.

Inflation in food products has been steadily increasing and was at a nineteen month high of 10.43% according to the latest government data.

Food is not the only impact. It will positively impact auto, travel, wages and even diesel generator sales. Only thing is the increased taxi fares ain’t going down easy. But this is good news.

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