By NNN-PTI
New Delhi : Government seems to buying more time to decide on revision in petrol and diesel prices with the issue not being listed for discussion at the Cabinet meeting scheduled for tomorrow.
“It was expected that the Cabinet would this week take a decision on the issue that has been hanging for months now. But the agenda for the tomorrow’s Cabinet meeting does not list fuel price revision as an item for consideration,” a Petroleum Ministry official said.
A Rs 2 a litre increase in petrol and Re one per litre hike in diesel prices is being contemplated but a duty rejig to minimise impact of high international crude oil prices looks unlikely.
The official, however, added that such a sensitive item is sometime added to the Cabinet agenda at the last moment.
On his part, Petroleum Minister Murli Deora remained non committal. “The Cabinet is to meet tomorrow (afternoon). But I can’t say if this (fuel price revision) will be discussed.” Insiders said several quarters within the ruling UPA alliance were opposed to even a marginal auto fuel price increase and that probably has kept the issue hanging.
Petrol and diesel price increase and possibly also domestic LPG rate hike had been on cards since October-end when international crude oil prices touched record high, but political compulsions has led to its postponement several times.
The official said the Government may raise the quantum of oil bonds to be issued to state-run retailers to partly compensate them for selling petrol, diesel, LPG and kerosene below the cost.