No immediate plan to cut fuel prices-Govt

No immediate plan to cut fuel prices-Govt

New Delhi: “India has no immediate plans to cut fuel prices despite crude oil’s fall to a 13-month low near $72 a barrel," oil minister Murli Deora said.

He said that a cut in prices would not be considered unless the price of crude oil imported by Indian refiners fell to $61 per barrel.

“The new break-even level is $61 a barrel and oil companies are still making losses," Deora adeded.

Close