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Center has no plans to raise fuel prices: Jaipal Reddy
SME News, Friday, Sep 07, 2012 14:45:31 PM IST
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NEW DELHI: Centre is not planning to raise the prices of petrol, diesel, cooking gas and kerosene for the time being. This announcement was made by Petroleum and Natural Gas Minister Jaipal Reddy.
The Minister said, “There are no immediate proposals to raise the prices of various oil products including petrol.”
As the oil companies are losing Rs 560 crore per day on the sale of regulated diesel and cooking fuels and also Rs 16 per day on petrol, the Oil Ministry wants the rates to go up after the Monsoon Session of Parliament concluded today.
Reports suggest that the state-run fuel retailers are witnessing loss worth more than Rs 5 per litre on the sale of petrol, which was freed from the centre's clutches in June 2010.
