Get ready for a new year bonanza. With the general elections due in the first half of 2024, Prime Minister Narendra Modi’s government is working on huge cuts – upwards of Rs 8 per litre -- in the retail prices of petrol and diesel that would be announced before the calendar year ends.

Sources say 8-10 rupees cuts on fuel prices can be expected in the new year

Egypt lowered fuel prices on Friday, the oil ministry said, following several rounds of price hikes as part of an austerity programme that has triggered discontent.&nbsp;

The move comes a week after rare protests broke out in Cairo and other cities across Egypt calling for the removal of President <a href="https://www.wionews.com/world/egypt-leader-shrugs-off-call-for-fresh-protests-252444">Abdel Fattah al-Sisi.</a>

The country's pricing committee "decided to lower the prices of the three types of gasoline products on the domestic market by 25 piastres (0.015 US cents) a litre", the ministry said in a statement Thursday.

The price of 80-octane gas was cut to 6.5 Egyptian pounds, 92-octane to 7.75 pounds and 95-octane was lowered to 8.75 pounds.

The decision comes "in light of the decline in the price of Brent crude oil in the international market between July and September and the depreciation of the dollar against the (Egyptian) pound," it said.

<a href="https://www.wionews.com/world/muslim-brotherhood-sidelined-in-egypt-protests-analysts-253099/amp">Egypt </a>has raised fuel prices several times as part of subsidy cuts under ambitious but tough economic reforms since general-turned-president Sisi took office in 2014.

The austerity policies, including subsidy cuts on essentials such as fuel as well as the devaluation of the local currency, are tied to a $12-billion bailout from the International Monetary Fund.

Egypt received the final tranche of the three-year IMF loan in August.

Since Egypt's agreement with the IMF in 2016, living costs have soared, hitting poor and middle-class Egyptians.&nbsp;

Sisi regularly calls on Egyptians to endure the economic hardship promising future prosperity.

Last month's protests broke out in defiance of a ban on demonstrations after an exiled Egyptian businessman accused Sisi and the military of rampant corruption.

Egypt lowered fuel prices on Friday, the oil ministry said, following several rounds of price hikes as part of an austerity programme that has triggered discontent.

Egypt lowered fuel prices on Friday, the oil ministry said, following several rounds of price hikes as part of an austerity programme that has triggered discontent. The move comes a week after rare protests broke out in Cairo and other cities across Egypt calling for the removal of President Abdel Fattah al-Sisi. The country's pricing committee "decided to lower the prices of the three types of gasoline products on the domestic market by 25 piastres (0.015 US cents) a litre", the ministry said in a statement Thursday. The price of 80-octane gas was cut to 6.5 Egyptian pounds, 92-octane to 7.75 pounds and 95-octane was lowered to 8.75 pounds. The decision comes "in light of the decline in the price of Brent crude oil in the international market between July and September and the depreciation of the dollar against the (Egyptian) pound," it said. Egypt has raised fuel prices several times as part of subsidy cuts under ambitious but tough economic reforms since general-turned-president Sisi took office in 2014. The austerity policies, including subsidy cuts on essentials such as fuel as well as the devaluation of the local currency, are tied to a $12-billion bailout from the International Monetary Fund. Egypt received the final tranche of the three-year IMF loan in August. Since Egypt's agreement with the IMF in 2016, living costs have soared, hitting poor and middle-class Egyptians. Sisi regularly calls on Egyptians to endure the economic hardship promising future prosperity. Last month's protests broke out in defiance of a ban on demonstrations after an exiled Egyptian businessman accused Sisi and the military of rampant corruption.

Egypt lowers fuel prices after protests

Fuel prices saw further reduction on Sunday with petrol and diesel now being sold at Rs 78.78 and Rs 73.36 per litre respectively in the national capital.

Compared to Saturday, petrol and diesel prices witnessed a reduction of 21 and 17 paise respectively in Delhi.

Meanwhile, in Mumbai, petrol and diesel are retailed at Rs 84.28 (a decrease of 21 paise) and Rs 76.88 (declined 18 paise), respectively.

Fuel prices had earlier witnessed a relentless hike in the country, burning a hole in the common commuter`s pocket. However, earlier this month, the Central government announced a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre, urging state governments to do the same on their end.&nbsp;

The fuel prices have witnessed a&nbsp;sharp decline over the last few days after hitting record high.

Fuel prices saw further reduction on Sunday with petrol and diesel now being sold at Rs 78.78 and Rs 73.36 per litre respectively in the national capital. Compared to Saturday, petrol and diesel prices witnessed a reduction of 21 and 17 paise respectively in Delhi.

Fuel prices saw further reduction on Sunday with petrol and diesel now being sold at Rs 78.78 and Rs 73.36 per litre respectively in the national capital. Compared to Saturday, petrol and diesel prices witnessed a reduction of 21 and 17 paise respectively in Delhi. Meanwhile, in Mumbai, petrol and diesel are retailed at Rs 84.28 (a decrease of 21 paise) and Rs 76.88 (declined 18 paise), respectively. Fuel prices had earlier witnessed a relentless hike in the country, burning a hole in the common commuter`s pocket. However, earlier this month, the Central government announced a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre, urging state governments to do the same on their end. The fuel prices have witnessed a sharp decline over the last few days after hitting record high.

Fuel prices further slashed; petrol selling at 78.78 per litre, diesel 73.36

After Kerala cut prices of petrol and diesel by Rs 1, Petroleum Minister Dharmendra Pradhan appealed all the states to reduce the fuel price.&nbsp;

Kerala did well by reducing the price and all states, whether governed by BJP or opposition, should try to reduce fuel prices but each state has different priorities and responsibilities, he said.&nbsp;&nbsp;

''I welcome it. One must also note that Kerala is one of the highest tax-collecting states and when we appealed(for fuel price cut), their finance minister refused, but now they took responsibility, I thank them for it,'' the petroleum minister said.

On the petrol price faux pas earlier in the day, he said since we moved to the mechanism of daily price change, prices have gone up and down by 1 paisa, 12 paise, 27 paise etc, it is not for the first time that there has been a change of 1 paisa. However, today one of our employees made a mistake and we accept it,'' he said.&nbsp;

Earlier in the day, Indian Oil had declared that they had cut oil prices in the country by 60 paise after sixteen consecutive days of high prices which had angered everyone.

However, the euphoria of price cut short-lived as hours after announcing cut in fuel prices, Indian Oil Corporation said the revised price was actually 1 paisa and not 60 paise as previously reported blaming it on "clerical error".&nbsp;

As a result, petrol prices have now have been revised down by just 1 paisa and not 60 paise in Delhi and&nbsp;59 paise in Mumbai.

Kerala did well by reducing the price and all states, whether governed by BJP or opposition, should try to reduce fuel prices but each state has different priorities and responsibilities, he said.

After Kerala cut prices of petrol and diesel by Rs 1, Petroleum Minister Dharmendra Pradhan appealed all the states to reduce the fuel price. Kerala did well by reducing the price and all states, whether governed by BJP or opposition, should try to reduce fuel prices but each state has different priorities and responsibilities, he said. ''I welcome it. One must also note that Kerala is one of the highest tax-collecting states and when we appealed(for fuel price cut), their finance minister refused, but now they took responsibility, I thank them for it,'' the petroleum minister said. On the petrol price faux pas earlier in the day, he said since we moved to the mechanism of daily price change, prices have gone up and down by 1 paisa, 12 paise, 27 paise etc, it is not for the first time that there has been a change of 1 paisa. However, today one of our employees made a mistake and we accept it,'' he said. Earlier in the day, Indian Oil had declared that they had cut oil prices in the country by 60 paise after sixteen consecutive days of high prices which had angered everyone. However, the euphoria of price cut short-lived as hours after announcing cut in fuel prices, Indian Oil Corporation said the revised price was actually 1 paisa and not 60 paise as previously reported blaming it on "clerical error". As a result, petrol prices have now have been revised down by just 1 paisa and not 60 paise in Delhi and 59 paise in Mumbai.

Petroleum minister hails Kerala fuel price cut, wants all states to follow suit

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Sources say 8-10 rupees cuts on fuel prices can be expected in the new year

Egypt lowers fuel prices after protests

Fuel prices further slashed; petrol selling at 78.78 per litre, diesel 73.36

Petroleum minister hails Kerala fuel price cut, wants all states to follow suit