No increase in Diesel prices for now

The concern over the price hike in the fuel price mainly for diesel has been quite a cause for worry in the past weeks. But recently, Murli Deora, the petroleum minister announced that the government is not favouring the fuel hike for now.

As per the reports in media, it is being learnt that there is a continuous hike in the price of the crude oil globally but the government is trying hard to halt the continuous increase in the cooking gas and diesel prices in the market.

The petroleum minister said that the government is trying hard not to increase the price of petroleum products. He also said that if there would be a further increase in rise of crude oil probably it may result in price hike. However the government is trying hard to not to raise the existing prices.

It was also being reported that diesel is a vital petroleum product due to its usage in essential commodities and a  price hike in diesel it will also raise the prices of other commodities. As per the government, the commodity prices are already increasing so it will not be beneficial to conduct an Empowered Group of Ministers meet right now.

If the reports are to believed, the EGoM were supposed to meet in December for reviewing the diesel prices but the meeting was called off without stating any reason. The ministers panel has still not decided on the new date of meeting. The oil marketing public sector firms are into selling cooking gas and diesel at the controlled Government prices. But they are allowed to fluctuate the petrol prices with the international prices.

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