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It is good news that crude oil prices are falling below $100 per barrel. This has become possible due to the contraction of demand for oil because of the high prices and strengthening of the dollar against all major currencies. In the circumstances, the Government may seriously consider a slight reduction in petroleum product prices which will help in sending the right signals for a reduction in the prices of other commodities and a further deceleration in the inflation rate.

P. E. Muthu Mumbai

More Stories on : Letters | Petroleum

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