'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.

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

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"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.