Petrol may be 40 paise cheaper

The price of petrol may come down by Rs 0.40 per litre from December 1 in step with the fall in international oil prices.

"International fuel prices have fallen in the past fortnight. Petrol, which is linked with import parity prices, may see a cut of 40 paise a litre," an oil company executive said today.

If diesel prices, too, are aligned with international rates, the price of the fuel may be cut by Rs 0.05 to 0.10 per litre.

However, Petroleum Minister Mani Shankar Aiyar was non-committal on the issue. "Let us wait and see," Aiyar said when asked whether the current practice of a fortnightly revision in petrol and diesel prices would be followed.