New Delhi, Sep 7 (ANI): Petroleum and Natural Gas Minister Jaipal Reddy on Friday denied speculation that oil marketing companies were going to hike fuel prices.
Reddy told media here that there was a need to lower the under-recoveries faced by the oil companies by selling fuel at subsidized rates.
“We are facing a tremendous crisis of unprecedented magnitude. However, there is no immediate proposal to hike fuel prices, including petrol. The Cabinet will take the final call,” he said.
With reports that there may be an increase in the prices of diesel, kerosene and LPG, the Bharatiya Janata Party (BJP) on Thursday alleged that the ruling UPA Government was merely trying to divert the attention of the people, as it is currently embroiled in various scams.
BJP spokesperson Prakash Javadekar said this step of the government would be like rubbing salt into the wounds of the common people.
“The government does not want to tell the truth in Parliament. It wants to run away from the coalgate scam and wants to evade the issue of corruption by raising the fuel price,” he said.
Communist Party of India (CPI) leader D. Raja also echoed similar sentiments on the issue, and said that the if the government hikes the prices of fuel then the people of the country would have to face the brunt.
“Once the session is adjourned, government and the oil marketing companies will go for another hike in the price of diesel, petroleum, and other petroleum products and it has become a routine for the Congress led UPA-2 Government. Once the session is over, they will allow the oil marketing companies to hike the price of diesel and petroleum,” said Raja.
Raja urged the oil marketing companies not to increase the price of fuel.“We advice the oil marketing companies not to go for any hike, if they go for any hike, it will face resistance from common people and as a political party we will protest,” he said.
According to reports, an increase in petrol, diesel, domestic cooking gas (LPG) and kerosene prices looks imminent after the Finance Ministry said it has no money to provide for fuel subsidy.
In all possibility, prices may be increased after the current Monsoon Session of Parliament, which ends on Friday.Diesel, domestic LPG and PDS kerosene rates have not been changed since June 2011 even though cost of production has soared 28 percent.
State-owned fuel retailers are losing Rs 560 crore per day on sale of diesel and cooking fuel, and are forced to resort to short-term borrowings to meet funds needed for importing crude oil (raw material).
Read more / Original news source: http://manipur-mail.com/jaipal-reddy-rules-out-fuel-price-hike-for-now/
