BackGovernment not to revise fuel prices until crude settles
Government not to revise fuel prices until crude settles
Premium
New Delhi: Government will not revise retail prices of petroleum products like diesel and petrol until global oil prices stabilise, the oil minister said on 13 November.
"We don’t want to burden poor man ... (we’ll) let it stabilise then we will take a decision," Murli Deora told a news conference, referring to global crude prices.
India has not raised state-administered retail fuel prices this year even though crude has jumped to a series of record highs close to $100.
It has been searching for weeks for a way to stem losses at state refiners forced to sell widely consumed fuels at discounted rates to protect the poor and help fight inflation.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
