Decision on fuel price hike likely today
Your motor fuel bill is poised to rise as the government looks set to decide on oil prices on Wednesday.
By TNN |
NEW DELHI: Your motor fuel bill is poised to rise as the government looks set to decide on oil prices on Wednesday. (Watch)
Also on the agenda is a marginal increase of Rs 10-20 in the price of cooking gas refills and some duty adjustments to limit the quantum of rise in motor fuel prices within Rs 4 a litre for petrol and Rs 2 for diesel.
"We are still discussing the issue... There is a Cabinet meeting scheduled for tomorrow," foreign minister Pranab Mukherjee, who also heads a ministerial panel on fuel prices, said on Tuesday.
Indications are that the government will first thrash out the issue at the Cabinet Committee on Political Affairs early in the morning to give the decision to raise pump prices a coating of wider political consultation, particularly among the UPA partners.
Also on the agenda is a marginal increase of Rs 10-20 in the price of cooking gas refills and some duty adjustments to limit the quantum of rise in motor fuel prices within Rs 4 a litre for petrol and Rs 2 for diesel.
"We are still discussing the issue... There is a Cabinet meeting scheduled for tomorrow," foreign minister Pranab Mukherjee, who also heads a ministerial panel on fuel prices, said on Tuesday.
Indications are that the government will first thrash out the issue at the Cabinet Committee on Political Affairs early in the morning to give the decision to raise pump prices a coating of wider political consultation, particularly among the UPA partners.
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The decision on measures to tackle the high international oil prices taken at this meeting could then be sent to the Cabinet Committee on Economic Affairs before being announced. Though CCPA can take a decision on increasing pump prices, any proposal that includes duty rejig will have to be cleared by CCEA.
On Monday, the PM had signalled that the government was running out of options on avoiding a rise in prices.
A day later, latest data culled for the consideration of the Cabinet panels raised the projected losses of the state-run oil marketing firms to Rs 246,000 crore in 2008-09 if they continued to sell at the artificially low prices set by the government.
Courtesy: The Times of India
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