Deregulation of oil prices with human face: Petroleum Minister

Deregulation of oil prices with human face: Petroleum MinisterThe union government may lift administrative control over petroleum products but any decision would be taken considering the interests of common man. Union Petroleum Minister Murli Deora said that government always revised prices in tandem with prices of crude oil in the international market.

Government is already doing enough to provide Kerosene and LPG to people at reasonable prices and it has sanctioned Rs. 30,000 crore subsidies for the same for the current financial year.

Mr. Deora added that recent price revision was a need of the hour as global crude prices were putting huge pressure on the public sector oil marketing companies.

Terming ongoing dispute between Ambani brothers as unwanted, the minster said that KG Basin belongs to government and any dispute can be settled out of court.

Meanwhile, the government is committed to provide cooking gas to various cities through pipelines, work for which has already been going on with satisfactory pace. Country's financial capital Mumbai will be completely served gas through pipelines within next two years. About 4 lakh houses of the city are already getting piped gas whereas others have to wait for little time.