No fuel price cut now, says Pandey

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New Delhi, Nov 6 : The government is not considering reducing petrol, diesel and domestic LPG prices, as public sector oil companies continue to make losses despite fall in international crude oil prices.

“Presently, there is no proposal under active consideration to cut fuel prices,” petroleum secretary R S Pandey told reporters here. Though Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum have started making profit on sale of petrol, they lose about Rs 155 crore per day on sale of diesel, domestic LPG and kerosene.

“Under-recoveries (on fuel sales) havn’t stopped. We will wait for under-recoveries to stop (before considering a reduction),” he said, adding, “I am not aware of any move to cut fuel prices (before companies break-even or stop making losses).”