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Saturday, Jan 19, 2008
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Hike will be minimal: Deora

Sujay Mehdudia

NEW DELHI: The increase in fuel prices will be minimal, Petroleum and Natural Gas Minister Murli Deora said on Friday.

“The government will take a decision within the next few days and send the same for approval by the Union Cabinet. But I can assure you that the hike will be minimal and all options will be exercised,” he said after inaugurating a fortnight-long fuel efficiency campaign initiated by the Petroleum Conservation Research Association here.

“Our endeavour is that consumers should not be burdened too much and the losses of oil companies are also taken care of. I assure you that people will not complain after the hike,” he said refusing to divulge the extent of hike under discussion.

According to reliable sources, the Petroleum Ministry and some members of the Group of Ministers said people could not afford a massive hike and asked if subsidy could be provided for the food and fertilizer sectors, why not for oil and gas also.

LPG prices

It is also learnt the GoM, headed by External Affairs Minister Pranab Mukherjee, could drop the proposal to hike LPG prices and status quo could be maintained.

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