Fuel Price Hike Imminent After Parliament Session?
Posted on: 05/Sep/2012 11:50:37 AM
Oil marketing companies are likely to hike the prices of all categories of fuel after the current session of Parliament ends,The monsoon session of Parliament is scheduled to end this week.
The Finance Ministry is out of funds to subsidize products any longer,the sources added.A comprehensive note has already been sent by the Petroleum Ministry to the Cabinet Secretariat listing various options for increasing prices of petrol, diesel, LPG and kerosene.
The Prime Minister has seen the note, and a final call on the quantum of the hikes is not decided yet.
An EGoM has not been constituted for the same and a meeting of the Cabinet Committee of Political Affairs (CCPA) will have to be convened for taking a decision on this politically sensitive matter.
Oil firms are currently losing Rs. 1.37 a litre on petrol, Rs. 19.26 a litre on diesel, Rs. 34.34 per litre on kerosene and Rs. 347 per cylinder of domestic cooking gas.
source:http://profit.ndtv.com
