No fuel price hike for now: Oil Ministry

Published on Fri, Sep 01, 2006 at 13:59 |  Source : Moneycontrol.com

Updated at Fri, Sep 01, 2006 at 14:46  

Like this story, share it with millions of investors on M3
0
0
Share on Tumblr
Markets Midday

Excerpts from Markets Midday on CNBC-TV18 Watch the full show ยป

The Oil Ministry says it won't hike fuel prices for now. That's because the average price of the Indian crude basket for August was below USD 71, reports CNBC-TV18.

 

If one looks back, on June 4, when the government last hiked fuel prices, it said that if the Indian crude basket crosses USD 71 per barrel, then oil companies would have the freedom to review fuel prices. But that obviously does not seem to be happening now. The average Indian basket price for crude in August was at USD 70.84 per barrel.

 

Oil companies too don't seem to be perturbed by this government decision as oil prices have been moving southwards for a couple of weeks now.

  

More on Moneycontrol

Trending News

Business News

Next-gen Macbooks may come with Retina display
Will RBI regulation prevent a gold loan bubble? "Will RBI regulation prevent a gold loan bubble?"

Obama On US Budget Proposes Replacing AMT With Buffett Rule

The latest earning numbers FIRST on CNBC-TV18
Videos
Interviews

Feb 13 2012, 22:41 | Source: CNBC-TV18

Govt, TRAI should map solutions for telecom sector: Experts  

Feb 13 2012, 19:27 | Source: CNBC-TV18

'Diverse offerings in power helping to withstand headwinds'  

Subscribe to

Moneycontrol Newsletters

Moneycontrol.com offers you a choice of various sectoral and other newsletters for FREE!

Follow moneycontrol.com