|
|
|
|
|
27th Zilhaj 1435 | Saturday, Oct 25, 2014
Business

Diesel price may be hiked by Rs 2 per litre, say sources

Monday, 7 January 2013
Comments(0)
January 07:

Prime Minister Manmohan Singh has warned that the government must raise diesel, kerosene and cooking gas prices in a phased manner as India's fuel prices are well below international prices. Sources have told Network 18 that the government may consider hiking diesel prices by Rs 2 to 3 per litre and LPG by Rs 50 to 75 rupees, in line with the Kelkar committee report recommendations.

"Energy remains under priced in our country, with coal, petroleum products and natural gas prices well below international prices. To meet our target of rapid, inclusive and sustainable growth we must undertake a phased rationalisation (rpt) rationalisation of energy prices to bring them in line with world prices," Prime Minister Manmohan Singh said on Monday.

Laying the foundation stone of the Rs 20,000 crore BPCL-Kochi Refinery's Integrated Refinery Expansion project at nearby Ambalamugal, Singh said adequate supplies of energy at affordable prices was needed for the country to achieve its target of rapid growth.

Noting that the country was dependent on imports to meet major portion of its crude oil requirements, he said large-scale investment was required for exploration of oil and gas within the country as also acquisition of overseas assets in the sector and strengthening of the marketing and distribution infrastructure.

The government was committed to encouraging companies to undertake domestic exploration for oil and gas and the public sector companies were also looking at opportunities abroad. The BPCL had made some significant successes in the upstream exploration and production sector, particularly in Mozambique and Brazil, he said.

--PTI

Latest News

We will never remake 'Awara': Ra...

Actor-director Randhir Kapoor says he will never remake RK Films' superhit movie 'Awara' because nobody can step into the shoes of legendary ...

Am on seventh heaven, says Advani

India's numero uno all-rounder of cue sports Pankaj Advani is on seventh heaven after adding yet another world title to his kitty following ...

Man tries to burn alive wife, daughter; at...

A drunk man made an unsuccessful attempt to set ablaze his wife and daughter before trying to end his life here, police said. The inciden ...

Related News

No plan to curtail supply of subsidised LPG cylinders: Pradhan

The government has no plans to curtail supply of subsidised cooking gas (LPG) from current 12 cylind ...

CEA suggests clearance of hurdles to woo private investments

Acknowledging that private investment is stifled in India due to “lots of regulations” and also ...

Nokia Says India a Top Growth Market; Stresses Its Focus on Country

Bullish on India, Nokia is ramping up its operations in the country, focusing on its three businesse ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26870 (Per 10g)

Opinion Poll
Do you think the victory of BJP in Haryana and Maharashtra, last nail in the Congress coffin?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com