No proposal to hike LPG, kerosene prices, says Oil Minister

Last Updated: Saturday, July 5, 2014 - 10:38

Zee Media Bureau

New Delhi: Putting speculations at rest, the government on Friday said it is not considering to move the Cabinet Committee on Political Affairs (CCPA) for raising kerosene and LPG prices as recommended by an expert committee.

"There is no such proposal in the government," Oil Minister Dharmendra Pradhan said.

Earlier in the day, PTI reported that the Oil Ministry is likely to move the Cabinet Committee on Political Affairs (CCPA) soon with an expert panel recommendations of raising kerosene price by Rs 4 a litre and cooking gas (LPG) rates by Rs 250 per cylinder.

The report further said the Oil Ministry is likely to propose that the monthly 40-50 paisa per litre increase in diesel prices may continue till the present Rs 3.40 a litre loss on the fuel is fully bridged.

The committee, headed by former Planning Commission member Kirit S Parikh, had in October last year recommended to the government that diesel prices should be hiked by Rs 5 per litre, kerosene by Rs 4 a litre and domestic LPG rates by Rs 250 per cylinder immediately to cut fuel subsidy bill by Rs 72,000 crore.

State-run oil marketing companies on Wednesday increased prices of non-subsidised cooking gas or liquefied petroleum gas (LPG) by Rs 16.50 per cylinder and aviation turbine fuel ( ATF) or jet fuel by over half a percent as global crude prices surged on the back of Iraq crisis.

With agency inputs

First Published: Friday, July 4, 2014 - 15:21
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