Centre may cut taxes on petrol, diesel ahead of elections to five states

Skyrocketing fuel prices have been one of the key poll planks used by Opposition parties in the poll-bound states to corner the BJP.

With four states and one Union Territory going to polls from month end, there is speculation that the government may rein in fuel prices to provide respite to consumers. Government sources said consultations were on between the Centre and states to cut taxes on petrol and diesel. Skyrocketing fuel prices have been one of the key poll planks used by Opposition parties in the poll-bound states to corner the BJP. Public sector fuel retailers also seem to be going easy on prices, even though Brent crude topped $70 per barrel. Pump prices have remained unchanged for nine days.