Diesel price-cut not discussed in Cabinet meeting: Deora | business | Hindustan Times
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Diesel price-cut not discussed in Cabinet meeting: Deora

A reduction in diesel rates did not come up for discussion at the Cabinet meeting today. With state-owned oil firms earning a profit of Rs 3.26 a litre, a reduction in retail rates is, however, on the cards as the last pre-poll sop that would help bring down inflation further.

business Updated: Feb 26, 2009 11:13 IST

A reduction in diesel rates did not come up for discussion at the Cabinet meeting on Thursday.

“Unfortunately, it was not on (the) agenda,” Petroleum Minister Murli Deora told reporters in New Delhi.

With state-owned oil firms earning a profit of Rs 3.26 a litre, a reduction in retail rates is, however, on the cards as the last pre-poll sop that would help bring down inflation further.

Deora refused to say if a meeting of the Cabinet Committee on Political Affairs, which usually deliberates on fuel price revision, was slated for this evening or tomorrow. Petroleum Secretary RS Pandey said, “I have not been informed of any meeting till now.”

“I am not aware of any move to reduce prices yet. There is no proposal yet before me,” he said but refused to completely rule out a price reduction.

“All I am saying is that I am not aware as yet of any proposal (to cut prices),” he said