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    HomeNewsBusinessEconomyOil min says not feasible to hike petrol prices: Srcs

    Oil min says not feasible to hike petrol prices: Srcs

    CNBC-TV18 learnt from sources that the oil ministry did not find it feasible to revise petrol prices on a daily basis as it would have to face problems with reference to VAT.

    September 24, 2012 / 18:45 IST

    CNBC-TV18 learnt from sources that the oil ministry did not find it feasible to revise petrol prices on a daily basis as it would have to face problems with reference to VAT. Sources further add that the revision in petrol prices will happen once losses on petrol cross Rs 1 per litre.

    There is also no immediate plan to undertake large-scale hedging of crude oil.  Currently, oil marketing companies undertake a small amount of hedging.  Sources also indicate that the next round of OMC compensation will be taken up only in the Winter Session of Parliament.

     

    first published: Sep 24, 2012 06:40 pm

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