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India considering hike in transport fuel prices
Monday, 26 May 2008, 21:12 IST
New Delhi: The Indian government is considering a hike in the prices of transport fuels to help petroleum marketing companies tide over the burden on account of crude oil topping $135 per barrel in international markets, top officials said.
"I am not ruling out anything," Petroleum Minister Murli Deora told reporters here Friday ahead of a crucial cabinet meeting to deliberate on the issue. He said he had already briefed Prime Minister Manmohan Singh on the issue Thursday evening.
The minister, who is also scheduled to hold a meeting with public sector undertakings (PSUs) in the oil sector, said petrol was being sold at a loss of 
16.34 a litre, diesel at 23.49 per litre, LPG at 305.90 per cylinder and kerosene at a discount of 28.72 per litre.
"The government and oil PSUs have shouldered the maximum burden of the highly volatile world oil prices insulating consumers in India from the most of the impact," he said in a statement Thursday. "We are concerned at the financial health of the PSUs."
Source: IANS
16.34 a litre, diesel at 23.49 per litre, LPG at 305.90 per cylinder and kerosene at a discount of 28.72 per litre.
"The government and oil PSUs have shouldered the maximum burden of the highly volatile world oil prices insulating consumers in India from the most of the impact," he said in a statement Thursday. "We are concerned at the financial health of the PSUs."
Source: IANS