Prime Minister: No fuel price cuts for now
November 12th, 2008 Leave a comment Visited 16 times, 1 so far today
Prime Minister: No fuel price cuts for now
India’s Prime Minister Manmohan Singh has clarified that the government has no plans to cut the price of petroleum products.
He said: “Even now the Indian oil companies have to bear a very heavy burden”.
Market was expecting a cut in the price of petrol and diesel considering crude is trading at a low price compared to few months back.
Singh added: “We have been subsidizing LPG, kerosene and diesel to a certain extent. If the prices keep going down, we will explore the possibility.”
He spoke about the need to bailout the Indian airline companies: “There is the employment angle to be looked at. If airlines close down, there will be considerable unemployment.”
Diesel, fuel prices, India, kerosene, LPG, Manmohan Singh, Petrol
Somanshu
Category: Oil and Refineries
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