Govt may clear Rs 24,000cr oil bonds next weekBS Reporter / New Delhi October 5, 2007The oil marketing companies are likely to get some relief from the burden of revenue losses from retail sales, with the government ensuring that oil bonds will be approved by the Cabinet next week."The Cabinet will review oil prices when it meets next week. Prices of petrol and diesel will also be up for review," said a top petroleum ministry official.He, however, added that a hike in prices of automobile fuels was unlikely due to political compulsions. "With the possibility of elections looming, an auto fuel price hike is highly unlikely," the official, who did not want to be named, said.He said that around Rs 24,000 crore worth of oil bonds will be cleared next week. Oil bonds are issued to government-owned oil marketing companies
