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Deora rules out immediate hike in petroleum prices

Last Updated: Sunday, August 23, 2009 - 15:51

Mumbai: Petroleum Minister Murli Deora on Sunday
ruled out any immediate hike in the prices of petroleum
products and said that a call would be taken after the crude
prices stabilise.

"Don`t talk about price revision at this point of time.

The prices keep going up and down every day. You can`t decide
every day what happens. The prices have to be stablised. We
will study for a month or six weeks....," Deora told reporters
at the sidelines of a function here.

When asked whether the government would affect any
increase in petrol and diesel prices in the eventaulity of
crude prices touching USD 75 per barrel level, Deora said, "We
will see it when it happens."

On July 1, the government increased the petrol and diesel
prices by Rs four and two per litre respectively to cut losses
of oil companies.

Bureau Report

First Published: Sunday, August 23, 2009 - 15:51

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