Petrol price cut soon, Moily says
NEW DELHI: Petroleum minister M Veerappa Moily
on Friday hinted that fuel retailers would cut petrol price in the next
few days and said he would take public transport to work every
Wednesday to promote a Rs 52 crore grand campaign to save $5 billion in
the country's fuel bill through conservation.
"Any advantage of price (reduction in international rates) and rupee (appreciation against US dollar) will be passed on to consumers... consumer will get full advantage," Moily said, pointing out that petrol is priced according to market dynamics. This will be the first cut in petrol price since May. TOI had first reported on October 12 that the trend in crude price and the rupee's exchange rate would result in a price cut by month-end.
On his conservation plans, Moily said, "I will either take the Metro or a bus to work every Wednesday starting from October 9. It's a voluntary act (for others). I cannot punish anyone not taking public transport but I want everyone from the highest ranking officers to the lowest to take public transport every Wedn
"Any advantage of price (reduction in international rates) and rupee (appreciation against US dollar) will be passed on to consumers... consumer will get full advantage," Moily said, pointing out that petrol is priced according to market dynamics. This will be the first cut in petrol price since May. TOI had first reported on October 12 that the trend in crude price and the rupee's exchange rate would result in a price cut by month-end.
On his conservation plans, Moily said, "I will either take the Metro or a bus to work every Wednesday starting from October 9. It's a voluntary act (for others). I cannot punish anyone not taking public transport but I want everyone from the highest ranking officers to the lowest to take public transport every Wedn
RANJAY KUMAR
PGDM
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