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 today.

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.