Own a luxury car? Pay more for fuel

TAX THE RICH: Oil Minister feels the slip in crude prices cannot be passed on to the consumer, yet.

ibnlive.com is on mobile now. Read news, watch videos
be a Citizen Journalist. Log on to m.ibnlive.com NOW!

Related Stories

Top Headlines

Top Videos

Most Popular

• Time for Mamata to walk the Budget talk 

• I have done everything for all the states: Mamata 

• Mamata's Budget express chugs in with goodies 

• NO INCREASE IN PASSENGER FARES, FREIGHT TARIFF 

• Top bosses fly high as AI struggles to survive 

• Lalu, Mamata are not on the same track 

• Watch: Aam aadmi rates Rail Budget 2009 

• Popular demands met, slew of sops in Rail Budget 

• Schemes: Duronto for metros | Yuva trains | Izzat ticket 

• Double-decker trains on select inter-city routes 

• I have done everything for all the states: Mamata 

• Watch: Lalu determined to derail Mamata express 

• Cabinet split over order legalising homosexuality  

• Watch: People don Pranab Mukherjee's role 

• PM gives thumbs up to Mamata's Budget 

• Watch: Aam aadmi rates Rail Budget 2009 

• Watch: B-school students' Budget wishlist 

• CEO Speak: Healthcare sector wants industry status 

• Indians want FM to re-introduce standard deduction 

• For Delhi Daredevils fans it's football in off season 

• Masand's Movie Review: Kambakkht Ishq vulgar, offensive 

• I had 'consensual' sex with maid: Shiney Ahuja 

• I have done everything for all the states: Mamata 

• Cabinet split over order legalising homosexuality  

• Federer reaches seventh successive Wimbledon final 

• Top bosses fly high as AI struggles to survive 

• Masand's Movie Review: Ice Age 3 enormously entertaining 

• Roddick knocks out Murray, to face Federer in final 

• Rajeev's Recco: AR Rahman: The Musical Storm 

• Dhoni wins India a thriller | Score | Pics 

Photogallery

Find us on Facebook | Join IBNLive community

Stay ahead with G-Talk Buddy | Click now!

New Delhi: If you own a luxury diesel car, like say a Mercedes, the Oil Minister thinks you should pay more for diesel.

This would come under the governments dual pricing strategy for diesel said Oil Minister Murli Deora.

"Commercial and luxury diesel car owners should pay more for fuel as they can afford it," Deora said.

The demand for diesel has been rising by 23-24 per cent while oil companies are losing 1 lakh crore rupees for subsidising the fuel.

Dual pricing was a key recommendation of high-powered BK Chaturvedi Committee, which submitted its report on the health of oil companies to the Prime Minister in July this year.

Meanwhile, there is increasing political pressure from the UPA allies to cut fuel prices as elections draw near.

Deora has however reiterated that fuel prices will not be cut as of now.

"We are planning how we help those sectors which need subsidy on diesel like the essential transporters and railways. But for those who can afford luxuries like Mercedes car paying just Rupees 16-17 for diesel is not fair on others," said the Oil minister, Murli Deora.

Deora also ruled out any immediate cut in fuel prices, saying that the time for that had not yet come.

International prices will have to fall further to trigger a retail price reduction, reiterated Deora.

"Oil companies are still losing money....Please pray that prices come down further so that we can consider reducing fuel prices," Deora told PTI.

The minister's comments come as fuel retailers are currently losing about Rs 400 crore per day on sale of petrol, diesel, domestic LPG and kerosene.

(With inputs from PTI)