The Oil Ministry is once again all set to push for the burden arising from the rise in crude oil prices to be equitably shared between consumers, the government and state-owned companies. The much anticipated meeting of a panel of ministers on raising auto and cooking fuel prices may happen next month, a top Oil Ministry official said on Thursday.

The Empowered Group of Ministers headed by Finance Minister Pranab Mukherjee is being convened soon to discuss a combination of a price hike and a reduction in government duties. State-owned oil firms currently lose Rs 15.44 per litre on the sale of diesel. One-third of this will have to be passed on to consumers in stages, while a similar amount will have to be borne by the government by way of either providing cash subsidy or reducing customs and excise duty.

Published Date : Friday, 24/6/2011 1:00 PM IST