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Not going to touch prices of LPG, diesel and kerosene: Reddy

28 May 2012 Evaluate

The Petroleum Minister S Jaipal Reddy has categorically denied the possibility of a hike in the prices of diesel, kerosene and LPG in the near future. Reddy said, ‘not going to touch the price of LPG, diesel and kerosene.’

His comments have come at a time when the Congress has been drawing flak from its coalition partners over the steep hike in the prices of petrol. Congress party's ruling allies TMC and DMK have held street protests against the hike in petrol price.

No decision has also been taken regarding the meeting of the EGoM with respect to the hiking of diesel prices either. The meeting is expected to see participation from Congress party's ruling allies TMC and DMK. Both TMC and DMK have held street protests against the hike in petrol price and the Congress seems to be buying time before taking another step.

The EGoM has not met since June last year inspite of the fact that depreciation of the rupee and rising prices of global crude oil have been posing significant challenges. The current meeting, in which Reddy participated, was held at the inter-ministerial level and was called to discuss the inflationary impact of a diesel price hike on inflation.

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