Deora declines to comment on fuel price hike

Bangalore, Feb 8 (UNI) Union Petroleum and Natural Gas Minister Murli Deora today declined to set an exact timeframe for hiking the prices of fuel like petrol and diesel.

Speaking to media at the Pradesh Congress Office here, he said the Left parties had given their views on the issue and had not fixed any timeframe for the United Progressive Alliance Government at the Centre to decide about it. However, the Government will ensure that the people will be put to minimum inconvenience in the event of a price hike, he said.

Giving details about the fuel position worldover, he said as against a demand of 130 million tons, India imported 102 million tons and efforts were on to reduce the amount being spent on import of crude oil. India has entered into joint ventures in seven countries for oil production, he revealed.

To a question, Mr Deora said the Government incurred a loss of Rs 72,000 crore annually towards subsidy for fuels like the Liquefied Petroleum Gas (LPG) and Kerosene. Nowhere in the world kerosene was sold at a price it was sold in India, he pointed out. He said while there was no shortage of LPG across the country, it was true that there was shortage of gas cylinders. There were over ten crore gas consumers served by three companies. The problem will be sorted out in the coming days, he added.

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