|
|
|
|
|
22nd Zulqada 1435 | Friday, Sep 19, 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

Smoking causes urological diseases

Smoking leads to a number of urological diseases, experts said. Reduced fertility, impotence, and bladder carcinoma a ...

No ebola case reported in Malaysia: Minister

Malaysian Health Minister S. Subramaniam Friday said that no case of the Ebola Virus Disease (EVD) has been reported in the country and ther ...

PCB plans to import software for detecting illegal actions

Former captain and Pakistan Cricket Board's (PCB) domestic operations chief Intikhab Alam said the b ...

Related News

Rupee up 10 paise against dollar in early trade on September 19

Extending its rising streak for the the fourth straight day, the rupee strengthened by 10 paise to 6 ...

Walmart to tap smaller cities in India with 50 stores in 5 years

Walmart, which has 20 stores in the country, is planning to open 50 more stores over the next five y ...

Jet to launch full services on all-economy JetKonnect

In a bid to take on competition from Tata-SIA’s Vistara airline which is yet to start operations, ...

Post new comment

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

Rs. 26340 (Per 10g)

Opinion Poll
Do you think attack on rescuers in Srinagar justified?
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