Deora to discuss fuel pricing with PM

Written by: Super Admin
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New Delhi, Jan 13: Discussing about his scheduled meeting with Prime Minister Manmohan Singh to discuss about the condition of oil companies, Petroleum Minister Murli Deora announced his plan to initiate talks on fuel pricing.

"Of course, prices will be discussed... if you review the financial health of oil companies, this (pricing) is a subject that will come up for discussion," he told reporters.

Earlier on Jan 12, sources revealed that deregulation of petrol prices and gradual phasing out of subsidies on diesel to ease burden on public sector oil marketing companies may be proposed by Deora, which is likely to draw a hike of Rs 3 per litre in petrol rates.

Indian Oil, Bharat Petroleum and Hindustan Petroleum have been stopped by the government from raising rates of petrol, diesel, domestic LPG and kerosene.

Selling petrol at a loss of Rs 3.06 a litre, diesel at Rs 1.56 per litre, kerosene at a loss of Rs 17.23 per litre and LPG at a discount of Rs 299.01 per cylinder, the three firms have incurred an estimated lost of Rs 44,300 crore in revenues in this fiscal.

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