No proposal for reducing fuel prices, Petroleum Secy

The government is not considering a cut in fuel prices as PSU companies continue to make losses on sale of LPG and kerosene.     

"At the moment there is no proposal before us for reducing prices," Petroleum Secretary R S Pandey told reporters here.     

State-run oil retailers have started making profits on sale of petrol and diesel, but continue to incur hefty losses on domestic LPG and kerosene.