Cabinet to decide on petrol prices next week
Ahemdabad   09-Oct-2007
The Union' Cabinet meeting next week is likely to take a decision on various options to bail out loss making oil firms, a top petroleum ministry official said on Saturday Responding to a query on remarks by IndianOil chairman Sartak Behuria that the corporation was losing up to Rs 100 crore a day on selling fuel below cost, petroleum secretary M S Srinivasan said price revision was not the only option to compensate the losses. "There are many options like price revision, tax adjustments, oil bonds and upstream companies parting with their profit to downstream marketing companies," Srinivasan said.