Union Government is likely to revise the prices of petroleum products in a couple of weeks. Petroleum Minister, Murali Deora said that the government is weighing all options to cut prices in line with the international prices. Crude rates in the international market stand at $40, giving enough room to the government to slash prices.   

Government is also working on the idea to replace LPG connections with CNG supply in Delhi and Mumbai. It would help to reduce the burden on Public Oil Marketing companies which are still facing losses by selling gas and kerosene at subsidize prices.  

Experts believe that there are maximum chances to revise the prices of kerosene oil and LPG gas in the forthcoming price revision. Most of the India’s poor use kerosene oil in houses and the government has not increased its price even a single time. Commenting on the matter, Mr. Deora said, "We charge only Rs.9 per litre for kerosene which is the cheapest in the world. The government knows that a large section of poor people in the country, especially in the urban area, depend on kerosene for cooking and light."

He was speaking at the facilitation function held by the National Student Union of India (NSUI) in Kochi.