Deregulation of oil prices with human face: Deora | business | Hindustan Times
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Deregulation of oil prices with human face: Deora

The Central government has been making periodic changes in the prices of petrol and diesel depending upon international prices which effectively is as good as deregulation, Union Petroleum Minister Murli Deora said on Sunday.

business Updated: Jul 12, 2009 17:49 IST

The Central government has been making periodic changes in the prices of petrol and diesel depending upon international prices which effectively is as good as deregulation, Union Petroleum Minister Murli Deora said on Sunday.

However, he indicated that overall deregulation of petroleum products which includes kerosene and LPG used by the poorer section of the society need to have human face.

Speaking to reporters after inugurating International Dawoodi Bohra Trade Exhibition in Mumbai, Deora said the recent budget has provided as much as Rs 30,000-crore towards subsidies for kerosene and LPG.

The government has not raised kerosene prices for 10 years, he said and indicated that the fuel of the poor people would continue to be subsidised.

He said the government has been making periodic changes in petrol and diesel prices depending upon international prices and "it is as good as deregulation".

Responding to a query on whether the government has dropped plans for overall deregulation of petroleum prices, he said, "deregulation need to have a human face".

As a policy, petroleum prices are regulated by the Government which results in huge subsidy burden on the government.