APN News

  • Monday, August, 2019| Today's Market | Current Time: 05:12:16
  • Rise in fuel product prices minimal: Deora

    Published on July 27, 2010

    Defending the increase in fuel product prices and their de-regulation, Government has said the rise in their cost was “minimal” and such a decision was needed to improve the financial health of oil marketing companies.

    “The price increases, particularly in respect of cooking gas, that is domestic LPG and PDS kerosene, have been quite minimal,” Petroleum and Natural Gas Minister Murli Deora said in a statement in Lok Sabha on Tuesday, as opposition members trooped into the well shouting slogans to protest the hike.

    Maintaining that pricing reforms were aimed at fiscal consolidation, he said the government has made it clear that “in case international oil prices display high volatility, the government will suitably intervene in the pricing of these products”.

    Deora laid the statement in the House as members of SP and RJD, led by their leaders Mulayam Singh Yadav and Lalu Prasad, trooped into the well raising anti-government slogans and demanding an immediate debate on price rise issue.

    Shifting the blame on state governments for high rates of taxation on fuel products, Deora said he was “constrained” to say that in some states, the sales tax on petrol and diesel “is as high as 33 per cent and 24.7 per cent” while some states were levying sales tax on kerosene “as high as 12.5 per cent.”

    Loading...