Tuesday, December 29, 2009

No immediate hike in fuel prices: Govt

New Delhi: The government has no immediate plans to raise fuel prices, petroleum secretary said on Tuesday, after a newspaper report that auto fuel prices could be raised early next year.
"There is no such proposal yet," Petroleum Secretary R S Pandey said, when asked to comment on the news report.
India previously raised fuel prices by as much as 10 per cent in July, when global crude oil prices were hovering at about $70 a barrel.
US crude for February delivery fell 28 cents to $78.49 a barrel by 0332 GMT.
State-run refiners sell petrol, diesel, kerosene and cooking gas at low government-fixed rates to control inflation and help the poor, and receive partial compensation from the government

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