New Delhi: Petroleum Minister Murli Deora said on 7 November the government would take a decision on whether to raise prices of petroleum products next week.
The government is yet to raise state-administered retail fuel prices this year even though global oil prices have jumped to nearly $98, increasing losses at state oil firms, which have to sell fuels at discounted rates.
“The government is very much alive to the problems. We are trying our best to resolve this problem as early as possible,” Deora said.
“We are considering various alternatives, including duty restructuring and increase in prices,” he said, adding that he would meet Prime Minister Manmohan Singh along with the chiefs of state-run oil companies later in the day.
“I cannot say 100% but we will try to resolve it next week,” he said.