No plans to raise fuel prices at present, says Veerappa Moily
Posted on: 05:04 PM IST Sep 24, 2013
India has no plans to raise diesel and other key subsidised fuel prices at present, Oil Minister M Veerappa Moily told reporters on Tuesday, as he announced measures aimed at saving $5 billion from the country's huge fuel bill.
Moily, who has said he wants to find savings of up to $25 billion on oil bills, outlined measures including public awareness campaigns which he said could help the world's fourth-biggest energy consumer reduce fuel costs.
He said India has a "serious engagement" with sanctions-hit Iran over oil imports.
Moily has said he could save $8.5 billion in foreign exchange outflows by raising imports of Iranian crude, which India pays for partly in rupees.