Bengaluru, July 18: Minister of State in Ministry of Petroleum and Natural Gas Ratanjit Pratap Narain Singh on Wednesday hinted at a hike in fuel prices to compensate for the fiscal deficit caused by oil subsidies.
Interacting with mediapersons here, Singh said “We are looking at the fiscal deficit because of the oil subsidies and our companies are having a terrible time. As far as the price rise and the subsidies are concerned, we are looking at kerosene, diesel and LPG.”
He added that the government is reviewing subsidies on petroleum, oil and lubricants to ease the burden on companies engaged in production, refinery and distribution.
India has not raised diesel prices since July 2011. (ANI)