Govt mulling increase in fuel price

To oust the impact of rising crude prices, the Govt is mulling a combination of fuel price increase and duty cuts.

Government is mulling a combination of fuel price increase and duty cuts to oust the impact of rising crude prices, Petroleum Secretary MS Srinivasan said on Monday.

Global crude oil prices have nearly doubled in the last one year but the government has not raised domestic fuel prices on a direction from UPA Chairperson Sonia Gandhi, Petroleum Minister Murli Deora had said in Lok Sabha recently.

HT Image

"I have no hesitation in saying that the UPA Chairperson had directed us to see that petroleum product prices do not increase and we are trying to do that," Deora had said then.

There has been a marked increase in prices of crude oil to nearly 100 dollars per barrel a day from 40-45 dollars last year but the government has not increased prices even by one rupee, he said.