Decision on fuel price hike soon: Moily

A day after petrol became costlier by 32 paise in the capital, after the Delhi government withdrew the VAT exemption on the fuel, oil minister Veerappa Moily today said the government is "seriously" considering revising rates of auto and cooking fuels.''

The government, however, is yet to take a decision on the time and quantum of the price hike, Moily added.

"All price hike or price reduction... Proposals are under serious consideration. We have not taken any decision," he told reporters here.

He said the OMCs have also been instructed to pass on any increase or reduction in state-level duties on fuels to the consumer. OMCs have been revising retail prices often due to changes in local taxes, the minister added.

The ministry of petroleum and natural gas has suggested a revision in the prices of diesel, domestic cooking gas (LPG) and kerosene, based on recommendation of the Vijay Kelkar Committee.

However, the cabinet committee on political affairs (CCPA) has to take a decision on the proposal as the move is politically sensitive, the minister said.