(a) whether the Government propose to hike the prices of Gas and other petroleum products;
(b) if so, the details thereof;
(c) whether the prices of crude oil have been increased at the international level;
(d) if so, the number of times the said hike has been made;
(e) whether the production of oil in the country is below its target; and
(f) if so, the details thereof?
MINISTER OF THE STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS (SHRI MURLI DEORA)
(a) to (f): A statement is laid on the Table of the House.
Statement referred to in reply to parts (a) to (f) of Lok Sabha Starred Question No.9 by
Shri Kailash Nath Singh Yadav and Shri Ravi Prakash Verma to be answered on 15th November,
2007 regarding price hike of petroleum products.
(a)to(d): As regards pricing of sensitive petroleum products namely petrol, diesel, PDS
Kerosene and gas (Domestic LPG), Government has been taking all possible measures to ensure
that there is no hardship to the common man. The Government has adopted the principle of
equitable burden sharing to protect the interest of common man and vulnerable sections of
society. The Government is closely monitoring the international oil prices and will continue
to protect the interests of consumers.
The global prices of crude oil and petroleum products have remained high and volatile.
The price of crude oil fluctuates in the international market on daily basis. The trend in
the international oil prices since April’07 is given below:
Crude oil Petrol Diesel (Indian Basket) $/bbl $/bbl $/bbl
Apr’07 65.52 82.69 77.50 May’07 65.74 87.96 78.79 Jun’07 68.19 83.82 79.09 Jul’07 72.69 84.36 82.86 Aug’07 69.03 76.05 79.95 Sept’07 74.83 81.35 88.02 Oct’07 79.33 87.46 92.62