The Hindu : Front Page : Fuel price review in a week: Deora

Online edition of India's National Newspaper
Friday, Oct 24, 2008
ePaper | Mobile/PDA Version

Front Page

Front Page

Fuel price review in a week: Deora

Special Correspondent

NEW DELHI: Under pressure from across the floor for a reduction in fuel prices, Union Minister for Petroleum and Natural Gas Murli Deora on Thursday informed the Lok Sabha that the Union government was reviewing the situation and would announce a decision within a week.

Unhappy at the Minister’s failure to give a categorical assurance on reducing fuel prices, the National Democratic Alliance members staged a walkout followed by those of the CPI(M) and the BSP.

The Minister drew flak from not just the Opposition, but also from a party colleague over the issue as members wanted to know why the government was not reducing the fuel prices despite it dipping below $67 a barrel.

According to Mr. Deora, the benefit of softening of the international oil prices had been partly offset by the depreciation of the rupee by about 20 per cent since April.

Pressed for more details, he first indicated that the government was waiting for the meeting of the Organisation of Petroleum Exporting Countries to take place on Friday and then assured the House of a fuel price review within a week.

Printer friendly page
Send this article to Friends by E-Mail

Front Page