Cabinet to decide on fuel prices today

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The retail prices of fuel might go up from today as India’s Cabinet is expected to discuss a possible increase in retail fuel prices later today.

According to a Cabinet minister, who did not wish to be named, “It is the most important issue now and the Cabinet will possibly hike the retail fuel.”

The Cabinet may also consider duty cuts on crude oil or might issue more bonds to state oil firms, which are losing millions of dollars having to sell fuel at government-set discounted rates.

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