Published on Mon, Jun 07, 2010 at 12:34 | Source : Reuters
Updated at Mon, Jun 07, 2010 at 13:34
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Oil ministry wants gradual fuel reform
The oil ministry favours a quick switch to market prices for petrol and a gradual rise in diesel rates as part of a government drive to cut subsidies, three sources in the petroleum ministry said on Monday.
The oil ministry favours a quick switch to market prices for petrol and a gradual rise in diesel rates as part of a government drive to cut subsidies, three sources in the petroleum ministry said on Monday.
It also wants a small increase in the price of kerosene, used for lighting by the poor, and in cooking gas.
India's fuel pricing system is scheduled to be reviewed at 1630 hours (1100 GMT) by a panel of ministers led by Finance Minister Pranab Mukherjee.
Oil industry officials say a move to market prices may increase petrol rates by 7% and diesel by about 9%.
