No plan to raise diesel,LPG prices: Oil Minister

Jaipal Reddy says Oil Ministry has recommended raising factory gate tax on diesel-driven vehicles.

Written by Agencies | New Delhi | Published:May 28, 2012 1:42 pm

India has no immediate plans to raise the retail prices of diesel,kerosene and cooking gas,Oil Minister S Jaipal Reddy said on Monday.

I am not touching (the prices of) diesel,LPG (liquefied petroleum gas) or kerosene,Reddy said,adding,no date has yet been fixed for a meeting of a ministerial panel to review the prices of the three subsidised fuel.

India’s state-owned oil fuel retailer announced an 11 per cent hike last week after a six-month freeze on rises,seeking to recover losses from higher global oil prices and a plunging rupee that have deepened the country’s trade deficit.

Reddy said his ministry has recommended raising the factory gate tax on diesel-driven vehicles to curb the growing consumption of the fuel,currently sold at substantially cheaper prices than petrol.

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