• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi , Nov. 7

The Government could review petrol and diesel prices, if international crude oil prices fall below $52 a barrel.

The Petroleum Minister, Mr Murli Deora, said his Ministry was examining the impact of fall in global crude prices, but there was no proposal to cut prices immediately.

"As of now, there is no proposal to cut prices, we are just examining the situation," the Minister emphasised.

The Petroleum Secretary, Mr M.S. Srinivasan, told newspersons, "The prices have to fall below $52 a barrel to make a case for a reduction in petrol and diesel prices."

He said oil retailing companies were estimated to suffer an under-recovery of Rs 2,700 crore in November on sale of diesel, kerosene and liquefied petroleum gas (LPG). Of this Rs 2,700 crore under realisation, Rs 700 crore is estimated from sale of diesel and Rs 2,000 crore from LPG and kerosene, he added.

While as the retailing companies were making a profit of more than Rs 4 a litre on petrol (it accounts for a small proportion of fuel retailing), they were incurring a loss of Rs 1.62 per litre on diesel.

In kerosene, the companies were losing Rs 14.75 per litre. On LPG, the under-recoveries were to the tune of Rs 102 per cylinder, he said.

More Stories on : Petroleum | Policy

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Mercury rises in northern plains

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line