TNI Bureau: The Narendra Modi government is likely to reduce the petrol and diesel prices ahead of the Lok Sabha polls.
If sources are to be believed the Petroleum Ministry has taken a final decision and likely to announce the cut in fuel prices in a day or two to woo the voters ahead of the announcement of Lok Sabha election dates.
There could be a reduction of Rs 7 per litre in petrol and Rs 5 per litre in diesel prices.
It is worthwhile to mention here that the price of petrol and diesel were last reduced in May last year when the Finance Ministry had cut the excise duty on petrol by Rs 8 per litre and that on diesel by Rs 6 a litre.