Minister of State (independent charge) for Petroleum and Natural gas, Dharmendra Pradhan interacted with media persons in Delhi today. On being asked about fuel price hike, the minister assured everyone that Modi government will keep pro poor approach while taking decisions. However, he did not make any statement regarding fuel price hike.
The Rajya Sabha MP shared his opinion that his ministry will soon address all the issues and problems faced by the Petroleum Industry. He attended presentation made by top officials from the Oil Ministry. These officials spoke about the Kirit Parikh committee’s report on fuel pricing and also recommended the new Minister to reduce the number of subsidized LPG cylinders from 12 to 9 units per consumer every year.
Dharmendra Pradhan is all set to face challenges as he is expected to take decisions regarding implementation of a gas price hike and shaping the new gas exploration and licensing policy.
On the other hand, Oil Ministry’s top official also interacted with media persons in Delhi on Tuesday. While talking about the possibility of new government’s green signal for diesel price hike, he shared his opinion that the government might allow the ministry to keep on increasing diesel price every month till the difference between diesel’s retail price and the cost of production is wiped out.
Reports suggest that currently Hindustan Petroleum, Bharat Petroleum and Indian Oil Corp are losing Rs 4.41 on every litre of the diesel sold. They are also losing Rs 33.84 per litre of kerosene and Rs 449.13 on every 14.2-kg LPG cylinder.
Both, industry experts and politicians have different views regarding BJP government’s fuel hike policy. The suspense surrounding fuel price hike will continue till Saturday, May 31st, as oil companies are expected to make next price revision in fuel prices that day after consulting with government.
Experts suggest that the BJP government’s first aim is to take steps to boost domestic gas and oil production, which will indirectly reduce India’s oil and gas imports.
By Nitten Gokhaley
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