New Delhi: It's time to brace yourself for another round of fuel price hike. And this might come as early as next Monday. That's the indication Petroleum Minister Murli Deora dropped on Friday.
With the Budget leaving the oil sector high and dry, Deora is likely to meet Finance Minister P Chidambaram on Monday on fuel pricing and subsidies. And Deora has not ruled out an increase in the prices.
"No, I am not disappointed by the Budget. It's a dream Budget and I welcome it. (But in the oil sector) Some of the problems have been addressed and some have not. We are going to meet the Finance Minister to resolve these," he said.
Petroleum Ministry officials, he said, are to meet their counterparts in finance ministry on Monday and he 'may join them when they meet the Finance Minister'.
Deora said his efforts would be to ensure that public sector oil companies do not lose money on selling petrol, diesel, LPG and kerosene while ensuring that common man was not burdened with price hike.
"We are trying to see that consumers, especially small and vulnerable sections, are not burdened. We always try that there are no (price) increases, but sometimes they become
unavoidable," he said. But he refused to categorically state if the prices would be increased.
Asked specifically if LPG and PDS kerosene consumers may be spared from any increase and a marginal increase in petrol and diesel prices effected to shore up revenues of oil firms,
who are losing heavily on account of selling fuel below cost, he said: "I can't say (that) just now."
It would depend on the Finance Ministry's response on hiking subsidies on LPG and kerosene and rationalising duties, he said.
(With agency inputs)
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