Fuel prices cut

The government reduced motor fuel prices for the first time in over two years with the aim of freeing some money in people’s pockets .From Saturday, petrol will be cheaper by Rs 5 a litre and diesel by Rs 2 in line with international crude’s fall of over $100 a barrel from its mid-July peak of $147. The price of cooking gas refills have been left untouched as state-run oilmarketing companies are still making losses on their sale. Friday’s decision restores petrol to the level prevalent till June 4 when the government had raised fuel prices. Diesel, however, will still cost Re 1 more than that level as its price had been revised by Rs 3 a litre. Cooking gas price was raised by Rs 50 a cylinder and has been left alone.