‘Free fuel price, cap subsidy on cooking gas’

A day after the Centre exerted its control to jack up motor fuel prices as an “ad-hoc” measure, the Economic Survey suggested sweeping reforms, starting with unshackling pump prices and limiting the number of subsidised cooking gas cylinders to 6-8 for each consumer-family in a year.

Criticising government’s “imperfect” handling of fuel pricing, the Survey said it was “high time” the government took advantage of low inflation and oil prices to allow oilmarketers to set motor fuel prices till global crude remains within $80/barrel. Inflation remained in negative territory for the third week in a row, sliding to -1.3% on Thursday. But crude prices have doubled to over $70 a barrel in June since December.  READ MORE..

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• Petrol prices cut by Rs 5, diesel by Rs 2
• Fuel price reduction within a week: Government
• Oilcos make profit, no price cut yet
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• Govt plans LPG price cut; diesel, petrol may follow
• Inflation seen at 10.45 per cent on Oct 25
• Inflation falls to 8.40 pct, at 7-month low
• No cut in petrol, diesel prices for now: PM