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Cabinet defers decision on gas price hike by 3 months

Last Updated: Wednesday, June 25, 2014 - 18:53

Zee Media Bureau/Rd. Alexander

New Delhi: In a much needed relief for the common man, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday put off the decision to hike gas price by three months stating that the new government should be given more time to decide on it.

Maintaining status quo on price of natural gas for 3 months, the government said current price of USD 4.2 for oil will continue till Sept-end.

Oil Minister Dharmendra Pradhan said there was a need for comprehensive discussion on the issue and that all stakeholders must be consulted to review the price.

All stakeholders need to be consulted on gas price, he said.

The Minister also informed the government would review gas price hike in interest of common man.

The mechanism of discussion on the hike in gas price will be the Oil Ministry, he added.

Addressing the press, Ravi Shankar Prasad informed that the Cabinet had decided to put off the decision to hike gas price by three months as more time was needed to decide on it.

Ravi Shankar also said the new government must be given some time on decide on the hike in gas price.

The news will come as a big relief for the common who have been battling with high prices and inflation in the country as the price of gas would have come into effect from July 1.

First Published: Wednesday, June 25, 2014 - 18:41
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