Diesel Price comes down after 7 years!
Posted on: 10/Sep/2014 3:03:26 PM
The news that the price of diesel will be reduced after a gap of 7 years is expected shortly.
The crude oil prices in the international market have come down by $20 after a gap of one year.
The price of crude oil has been reducing for the 45th continuous day, the price per barrel stands below $100. With the reducing price trend for crude oil, the value of Indian Rupee against American Dollar has appreciated. This has completely compensated the losses incurred by oil corporations and made way for some profits as well.
With the government having control on oil prices, reliable sources from the ministry of petroleum inform that an announcement regarding reduction in diesel oil prices is expected shortly.
If the price reduction is announced, this will be the first time after a gap of 7 years.This will benefit agriculture, fishing, freight transport, and other trades. This will pave the way for some economic growth. It may also lead to reduction in inflation and also prices of commodities.
