Special Correspondent

NEW DELHI: Even as public sector oil marketing companies are being held back from revising petro-product prices, the Planning Commission on Wednesday recommended an independent oil regulator.

In its report on an Integrated Energy Policy (IEP) released here, the Expert Committee, headed by Commission Member Kirit Parikh, has favoured an independent regulatory authority for the downstream oil sector.

Accepting the committee's report, the Planning Commission Deputy Chairman Montek Singh Ahluwalia termed the mounting subsidies in the oil sector as "unsustainable" while virtually pitching for passing on a portion of the burden to consumers.