PANIPAT, Feb 15 (PTI) - The government has no plans to increase petrol and diesel prices even though international crude rates have touched USD 100 per barrel, Oil Minister S Jaipal Reddy said here today.
"We are not at the moment thinking of increasing prices," he told reporters here.
The spurt in international oil prices means that state fuel retailers will end the fiscal with around Rs 80,000 crore of revenue losses on selling diesel, domestic LPG and kerosene below cost.
"... the oil marketing companies are facing a burden of the order of Rs 80,000 crore (and) may be Rs 100,000 crore (this fiscal)," he said.
Even in case of petrol, whose price fixation was freed from government control in June last year, there is no proposal to raise prices just now, Reddy said.