Reddy rules out diesel price hike
January 20th, 2011 - 7:34 pm ICT by ANINew Delhi, Jan.20 (ANI): New Petroleum and Natural Gas Minister S.Jaipal Reddy on Thursday ruled out any increase in diesel prices, even though oil companies are losing Rs.7 per litre on the sale of transport fuel.
Interacting with media here after assuming charge of his office, Reddy said there was no proposal to increase in diesel prices, and added that a deregulation of diesel prices would take place in due course.
He also said that there would be no rollback of petrol price, which has been raised seven times since its deregulation in June, 2010.
Reddy revealed that the three state-owned fuel retailers– Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation — are expected to lose Rs 72,000 crore in revenue this fiscal on account of subsidised fuel sales.
He said that Petroleum and Natural Gas Ministry would press for a reduction in customs on crude oil and excise duty on diesel, as was proposed by his predecessor, Murli Deora.
Reddy met with senior ministry officials and said that as a “new minister in an old government”, he was morally and politically accountable for all the policies and decisions taken by his predecessor. (ANI)
- No plans to raise diesel prices, roll back petrol rate: Jaipal - Jan 20, 2011
- May consider reduction of diesel subsidy : Reddy - Feb 15, 2012
- Petrol price hiked by Rs.7, opposition and allies fret (Intro Roundup) - May 23, 2012
- Petrol price hiked by Rs.6.28 plus taxes, industry welcomes move (Second Lead) - May 23, 2012
- Government compelled to hike fuel price: Reddy - Aug 04, 2011
- Petrol price hiked by Rs.7, opposition and allies fret (Roundup) - May 23, 2012
- Fuel price hike politically not feasible: Reddy - Jan 27, 2011
- Ministerial panel to decide on diesel price hike next week (Lead) - Dec 15, 2010
- No plan to hike diesel, LPG, kerosene prices: Reddy - May 28, 2012
- EGoM on fuel price hike deferred for next week: Jaipal Reddy - May 10, 2011
- Fuel price hike a necessity but no decision yet: Jaipal Reddy - May 22, 2012
- Petrol price to be cut if global crude prices slip further: Minister - Aug 09, 2011
- After official's death, oil ministry to tackle adulteration (Lead) - Jan 27, 2011
- Ministerial meet to discuss LPG supply, price deferred - Sep 16, 2011
- Government will check oil price fluctuation: Deora - Oct 27, 2010
Tags: bharat petroleum, bharat petroleum corporation, crore, crude oil, deregulation, diesel price hike, diesel prices, excise duty, fuel retailers, fuel sales, hindustan petroleum, hindustan petroleum corporation, indian oil, jaipal reddy, litre, ministry officials, oil companies, predecessor, rollback, seven times