New Delhi, Dec 4 (UNI) Ruling out any immediate price hike, the government today said it is closely monitoring the international oil prices and will continue to protect the interest of the consumer.
Petroleum Minister Murli Deora said regarding pricing of sensitive petroleum products -- petrol, diesel, PDS kerosene and domestic LPG, the government has been taking all possible measures to ensure that ''there is no hardship to the common man.'' The government has adopted the principle of equitable burden sharing to protect the interest of the vulnerable sections of society, Mr Deora said in a written reply to the Rajya Sabha.
He said despite increase in the international oil prices, the government has not increased the retail selling prices of sensitive petroleum products.
On the basis of softening of international oil prices during the second half of 2006-07, the prices of petrol and diesel were reduced on November 2006 and reduced again in February 2007, Mr Deora said.
The reduction was Rs two per litre and Re one a litre for petrol and diesel respectively on each occasion (Delhi prices).