No roll back on fuel prices; Govt, Deora meets Sonia

New Delhi, Jun 6 (UNI) Despite stringent opposition from the Congress and other political parties, the government today ruled out any immediate rollback in price hike of petrol and diesel.

A spokesman of Prime Minister's Office and Petroleum Minister Murli Deora both made it clear that the government was not considering any immediate revisit of the hike in prices of petrol of Rs 4 and diesel of Rs 2 per litre, effected by the Cabinet yesterday.

However, Mr Deora said nothing can be ruled out as what happens tomorrow "we will see".

The highpoint of the events today was a meeting between Congress President Sonia Gandhi and Mr Deora at the residence of the former at 10, Janpath, where Ms Gandhi reportedly pressed for a partial review of the fuel prices.

After meeting Ms Gandhi, Mr Deora said "as of now there is no roll back, but nothing can be ruled out. We are a responsive government. '' The Minister said the price hike decision had been taken after due consideration of the interest of all staskeholders.

The government, which left prices of cooking gas and kerosene unchanged, also approved cut in customs duty and issuance of bonds to bridge deficit arising from surging global oil prices.

The PMO Spokesman said the price increase in fuel prices was carried out in view of the soaring crude oil prices in the global markets.

The unprecedented hike in prices of petrol and diesel drew natiowide protests, with the Left parties, BJP and civil society groups threatening to launch agitiations.

There was also strong reaction from within the Congress party on the increase with its General Secretaries making it clear that the common man will be hit by the new fuel prices.

Mr Deora said that a strong economy entails that the financial health of the oil companies be sound.

He said for the first time the credit rating of BPCL has been lowered and the oil major was finding it difficult to raise money from financial institutions and the market.

Mr Deora said the Ministry was launching a publicity blitz in the media explaining the reasons that compelled the government to rise energy prices. Advertisements will appear in newspapers tomorrow itself, he said.

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