The Cabinet will not consider raising domestic fuel prices in the face of surging global crude prices, as the issue is not on the agenda for Friday’s Cabinet meeting, informed Murli Deora, minister of petroleum and natural gas.
“We need to take immediate steps to save oil companies, and I have discussed the issue with the prime minister last night. We are trying to see that some action is taken immediately,” Deora told media.
Earlier, petroleum secretary MS Srinivasan said an increase in domestic fuel prices was inevitable and the government would work out some solutions by Friday evening. However, according to political analysts, any rise in prices could be politically damaging to a government facing crucial state elections over the next few months.
