Centre is not in favour of hiking oil prices, though international crude prises have gone up due to dollar-rupee fluctuations and the latest stand-off between Iran - US and other European countries. This was stated by Union Minister for Petroleum and Natural Gas, S. Jaipal Reddy in Visakhapatnam.
He was dedicating to the nation the 2,200 crore rupees " Clean Fuel Project "of Visakh Refinery at Hindustan Petroleum Corporation Limited. He said, the Government is incurring a huge loss because of subsidy on fuels.
