Petrol, diesel prices may go down by Rs 5 a liter
Bank of America analysts say government is likely to reduce fuel taxes
Global crude oil price hovers around $60 a barrel
Government will incur a loss of Rs 71,760 crore due to tax cut
India buys crude oil for $62 a barrel
Last December, it stood at $50 a barrel
Increase in demand and drop in oil production pushed up prices
At present, central tax on diesel is Rs 31.83 and petrol Rs 32.98
