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Diesel
price to be decontrolled in due course: Deora
Monday November 01, 2010 07:15:16 PM,
IANS
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Sundareshan announced after the meeting of the Empowered
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New Delhi:
Petroleum Minister Murli Deora Monday said the government is
considering decontrolling diesel prices and asserted that freeing
of petrol prices and raising of diesel prices have not hampered
the automobile industry.
"There is a proposal to decontrol pricing of diesel in due course
of time," said Deora at Petrotech 2010.
In June, the government had decontrolled petrol prices. At the
same time, diesel prices were hiked by Rs.2 per litre, with the
commitment that the price would be eventually decontrolled.
"Why should the government provide a subsidy of
Rs.3 per litre on diesel for people who ride in Mercedes," asked
Deora.
Last week, Deora had ruled out an immediate decontrol of diesel,
citing the current high price of crude in the interenational
market.
The minister noted that despite the decontrol, the sale of cars
and vehicles have shown a quantum jump. "This indicates that
increase in prices of petrol and diesel has not affected the
automobile industry at all, which is contrary to the belief that
increase in prices of petrol and diesel would hamper growth of
automobile industry."
Later speaking on the sidelines of the conference, Deora ruled out
the possibility of decontrol of kerosene, asserting that the
government will try to protect the common man's interest.
The minister said the decision to increase fuel prices had to be
taken as financial position of oil marketing companies was
becoming precarious, with under-recoveries reaching a peak of Rs
1.03 lakh crore in June 2008.
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