One statement is given, and it is followed by two inferences numbered I and II. Read the statement and decide which of the inferences is/are true for the given statement.
Statements: Fuel prices in India are inflating day by day, and there is no upper limit in its price increase.
Inferences:
I. Central and State governments have not cut down their respective taxes on fuel.
II. Inflation in the international market is influencing the rising fuel prices.