Petrol and Diesel Prices Latest News: In a strategic move to counter the recent surge in inflation rates and alleviate the burden of Equated Monthly Installments (EMIs), the Indian government is contemplating a reduction in the prices of petrol and diesel, with plans set in motion for implementation from January. The decision comes at a time when there has been a noticeable decline of over 3 percent in crude oil prices, providing a favorable backdrop for the potential price cut.