Indian government rejects any possible cuts in fuel prices

Indian government rejects any possible cuts in fuel prices

The Indian government has made it clear that there would be no fuel price cuts and they are not even considering implementing it in the near future.

Petroleum Secretary M S Srinivasan said in a statement clarifying the doubts being raised in the media: “As of now there is no plan to cut prices of petrol and diesel. We are not even reviewing the prices.”

There were reports saying that Petroleum Minister Murli Deora had said that the ministry would cut domestic prices if there was a sustained drop in international crude prices.

As per available information, the ministry has canceled the plans to cut fuel prices, as the global prices have not gone down that much.

Deora added: ”In order to keep a check on inflation, the domestic prices of petroleum products like petrol and diesel have not been raised to the international levels. Eighty-four per cent of the additional burden has been borne by the government and only marginal burden has been passed on to the consumers.”