370)this.width=370">Industry sources said the EGoM may decide to free just the petrol price for now and approve a marginal increase in diesel and LPG rates.
The official said the three firms had lost Rs 46,051 crore (Rs 460.51 billion) on selling petrol, diesel, domestic LPG and PDS kerosene below the imported cost in 2009-10. Of this, Rs 14,430 crore (Rs 144.30 billion) was the loss on petrol and diesel, which is entirely being met by upstream firms like ONGC and OIL.
To partly cover the Rs 31,621-crore (Rs 316.21 billion) loss on LPG and kerosene, the finance ministry has agreed to give Rs 26,000 crore (Rs 260 billion). The remaining Rs 5,621 crore (Rs 56.21 billion) would have to be absorbed by the retailing firms, he said.
According to the terms of reference (ToR), the EGoM is to consider a pricing policy for petrol and diesel, including decontrol, he said, adding that it also has to decide on ways to bridge the deficit between the imported cost and retail price of LPG and kerosene through a marginal price hike.
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