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No immediate plan to cut fuel prices: Deora

India has no immediate plans to cut fuel prices despite crude oil's fall to a 13- month low near $72 a barrel, oil minister Murli Deora told reporters on Thursday.

business Updated: Oct 16, 2008 12:49 IST

India has no immediate plans to cut fuel prices despite crude oil's fall to a 13- month low near $72 a barrel, oil minister Murli Deora told reporters on Thursday.

He said a cut in prices would not be considered unless the price of crude oil imported by Indian refiners fell to $61 per barrel.

"The new break-even level is $61 a barrel and oil companies are still making losses," Deora told reporters.