No hike in LPG, kerosene prices: Deora
Petroleum minister Murli Deora has ruled out any immediate increase in LPG (cooking gas) and kerosene prices, saying the government was committed to making available the mass consumed cooking fuels at affordable price.
By PTI |
NEW DELHI: Petroleum minister Murli Deora has ruled out any immediate increase in LPG (cooking gas) and kerosene prices, saying the government was committed to making available the mass consumed cooking fuels at affordable price.
Deora, who met CPM leader Sitaram Yechuri on the issue of pricing of sensitive petroleum products, said the government accorded highest priority to the interest of the weakest and vulnerable sections of the society.
"There is no intention to increase prices of kerosene supplied through public distribution system (PDS) and domestic LPG," he said.
Public sector oil firms are losing over Rs 130 per LPG cylinder and about Rs 12 on sale of every litre of kerosene, as input cost (crude oil) has shot up sharply.
IndianOil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp together lost about Rs 18,000 crore on account of selling petrol, diesel, LPG and kerosene below their production cost in April-December 2005.
Deora, who met CPM leader Sitaram Yechuri on the issue of pricing of sensitive petroleum products, said the government accorded highest priority to the interest of the weakest and vulnerable sections of the society.
"There is no intention to increase prices of kerosene supplied through public distribution system (PDS) and domestic LPG," he said.
Public sector oil firms are losing over Rs 130 per LPG cylinder and about Rs 12 on sale of every litre of kerosene, as input cost (crude oil) has shot up sharply.
IndianOil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp together lost about Rs 18,000 crore on account of selling petrol, diesel, LPG and kerosene below their production cost in April-December 2005.
Deora, who also held discussions with C Rangarajan, who heads the inter-ministerial committee to suggest pricing and taxation policy of petroleum products, said a solution to restore the financial health of oil firms need to be found.
Fuel retailers IOC, BPCL, HPCL and IBP reported net losses in first nine months of current fiscal. The four together reported net loss of Rs 2,898 crore during April- December as against a net profit of Rs 5,223 crore in the same period a year ago.
The losses assume greater proportion if the Rs 9,751 crore assistance provided to retailer by upstream oil companies like ONGC is taken into account, he said.
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