No proposal to raise fuel prices - oil secy

The government has no immediate plan to raise fuel prices, Oil Secretary R.S. Pandey said on Thursday.

"There is no proposal yet on raising fuel prices," he told reporters, adding oil marketing companies were likely to suffer a revenue loss of 440 billion rupees in the current financial year by selling fuel at government-set rates.

He said inter-ministerial consultations about raising the prices of gas sold under the administrative price mechanism were underway, but did not provide a timeline for a decision.