370)this.width=370">After natural gas prices, the government looks set to bite the bullet on auto fuel prices, with a panel of ministers scheduled to meet on June 7 to decide on freeing petrol and diesel prices.
An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee is scheduled to meet on June 7, a top petroleum ministry official said.
Besides freeing petrol and diesel prices from government control, dealing with the revenue lost on selling domestic LPG and PDS kerosene below cost is also on agenda of the ministerial panel.
The government had on Wednesday decided to more than double the price of natural gas used as feedstock by power plants, fertilizer units and firms selling CNG to $4.20 per mmBtu, at par with the rate at which Reliance sells its gas.
The decision to hike rates from Rs 3.2 per cubic metre to Rs 7.5 per cubic metre, necessitated to rationalise gas prices and to check the losses of state oil companies, was considered bold, considering the fact that electricity tariff and CNG prices were bound to go up.
No comments:
Post a Comment