Oil ministry wants gradual fuel reform - Moneycontrol.com

The oil ministry favours a quick switch to market prices for petrol and a gradual rise in diesel rates as part of a government drive to cut subsidies, three sources in the petroleum ministry said on Monday.

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It also wants a small increase in the price of kerosene, used for lighting by the poor, and in cooking gas.

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India's fuel pricing system is scheduled to be reviewed at 1630 hours (1100 GMT) by a panel of ministers led by Finance Minister Pranab Mukherjee .

Full Story: Oil ministry wants gradual fuel reform - Moneycontrol.com