No hasty decision on fuel prices

Written by Press Trust of India | New Delhi | Updated: Sep 8 2013, 06:38am hrs
Amid rising crude oil prices, the government said it will not take any decision in haste to increase diesel and petrol prices. No decision has been taken. No decision would be taken hastily and certainly no decision will be taken without weighing the pros and cons of the larger public interest, finance minister P Chidambaram said. What does the government gain by taking a hasty decision that puts extra burden on the poor And we are not fools on this side. Some decisions have been taken, but these are painful decisions that have to be taken keeping the larger interest, he said. Noting that fuel prices too add to inflation, Chidambaram said if crude oil prices go up beyond a sustainable level of subsidies, some price rise has to be passed through. No one in the government can be happy by increasing petrol or diesel prices. If we can afford the subsidy, we should go by subsidy. To the extent we can afford the subsidy, we are providing it, he said.