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'No proposal for reducing fuel prices'

The government is not considering a cut in fuel prices as PSU companies continue to make losses on sale of LPG and kerosene.

business Updated: Nov 20, 2008 15:04 IST

The government is not considering a cut in fuel prices as PSU companies continue to make losses on sale of LPG and kerosene.

"At the moment there is no proposal before us for reducing prices," Petroleum Secretary R S Pandey told reporters in New Delhi.

State-run oil retailers have started making profits on sale of petrol and diesel, but continue to incur hefty losses on domestic LPG and kerosene.