No plans to raise LPG, kerosene prices: Government

NEW DELHI: The government on Friday said there is no plan to raise cooking gas and kerosene prices in line with an expert panel under Kirit Parikh that had been set up by the UPA government.

Market buzz that the government is ready to move the Cabinet Committee on Political Affairs with the proposal saw stocks of state-run oil marketing companies rise on the Bombay Stock Exchange on Friday.

The stock of IndianOil Corporation, the largest refiner-marketer, gained nearly 2%. Similarly, Hindustan Petroleum rose 1.8% and Bharat Petroleum was up 0.35%. The BSE Oil and Gas index itself closed 1.67% higher than previous close.

But the oil ministry in the evening issued a statement saying there was no plan to revise subsidised LPG and kerosene prices.

The BJP had on Tuesday said the government would not raise prices of kitchen fuels no matter how much pressure is brought on the government by rising global oil prices.