Govt mulls cut in petrol, diesel prices

Agencies
Posted: Saturday, Jan 10, 2009 at 1352 hrs IST
Updated: Saturday, Jan 10, 2009 at 1352 hrs IST

Font Size

Feedback

Discuss

States not to review sales tax on jet fuel 'Deregulation of oil prices need to have human fac...India’s crude oil production rises 3.2%

Mumbai: Petroleum Minister Murli Deora said the Government is considering a further up to Rs 5 per litre reduction in petrol, Rs 3 a litre in diesel and Rs 25 per LPG cylinder prices in the next few days.

"We have talked to Prime Minister, in coming days we are trying to reduce the prices of petrol, diesel and LPG...give us 10 -15 days," Deora told reporters.

"According to me the advisable reduction would be Rs 5 per litre for petrol, Rs 3 per litre for diesel and Rs 25 on LPG cylinder," he said when asked about the extent of reduction in prices.

Oil companies have minimised the losses on petrol and diesel, as crude oil prices have lowered to USD 40 per barrel from its peak of USD 147 a barrel in July last year.

"From this quarter onwards, we expect the oil marketing companies to start making profits. But, if the crude oil price rises beyond 40 dollar per barrel, then it (profit) will not happen," Deora added.

When asked about a reduction in kerosene prices, he said it is already available at the cheapest rate in India of Rs 9 per litre.

On December 6, the Government had reduced prices of petrol and diesel by Rs five and Rs two per litre, respectively, as global crude prices hovered around four year low.

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

I agree to the terms of use.

Comments

» Patrolium Prices

Posted by R S Choudhry on 2009-01-11 18:05:34.131651+05:30
It is the honest Citizen of this country who are suffering due to wrong Poliy of the Government. Government earn a lot in Taxes but there is a parellel Economy in this Country. It is all due to the ieffeciecy of the Policy makers. Kerosene is not available at Rs 8-9 as per Minister Statement. but Public is well aware that it is ment for helping the Patrolium Companies

Reply Forward

» Oil Politics

Posted by Raj Khanna on 2009-01-11 10:34:50.191572+05:30
Another Political Stunt , Who is stopping Murli now to reduce the prices.As public have short memory so the Political Party wants to encash the same

Reply Forward

» Govt. mulls cut in fuel prices

Posted by 132hotmail on 2009-01-11 08:58:42.926703+05:30
It is all a political game of Congress

Reply Forward

» Political Stunt

Posted by sandeep on 2009-01-10 20:11:36.377844+05:30
it is all political stunts as general elections are to be held in near future and they know that till now this government was a big failure in all the areas.

Reply Forward

» petroleum prices

Posted by sant bahadur singh on 2009-01-10 18:03:00.65272+05:30
Government takes much time to decide tranfering the benefits to the people. But it works faster in increasing the rates.

Reply Forward

» unethical way of earning money

Posted by vasanthachandran on 2009-01-10 16:29:25.345059+05:30
government found easier way to agument their income through sale of petroleium prices and it is some short of cheating the public.

Reply Forward