International BusinessNo plans to hike fuel prices for now: Deora
With crude touching the year’s high above $74 a barrel on Friday, the government has no plans to increase fuel prices in the near future.
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Speaking on the sidelines of a conference in Mumbai, Minister for Petroleum and Natural Gas Murli Deora said, "There"s no need to talk about revision just now. Let price stabilize first."
The government had increased fuel prices this July following successive increase in global crude prices. Gasoline and diesel prices increased by Rs 4 per litre and Rs 2 per litre, respectively.
Two congress led states -- Maharashtra and Haryana -- are going in for assembly elections in October and this would certainly not be the right time for the government to think of a fuel price hike.