The government today said it is not considering raising rates of diesel, domestic gas,LPG and kerosene for the moment. The Petroleum and Natural Gas Minister, Mr S. Jaipal Reddy told reporters in New Delhi that there is no thinking on this matter and no date for meeting of Empowered Group of Ministers, EGoM has been fixed.

The EGoM on fuel prices, headed by Finance Minister Pranab Mukherjee, has not met since June last year even though depreciation in the rupee has raised the cost of imports. Mr Reddy said levying a one-time duty of 80,000 rupees on diesel cars proposal was under consideration of the Finance Ministry.

Mr. Reddy presented the annual PetroFed Oil and Gas industry Awards for 2011 for excellence in performance in various categories. The awards for performance during fiscal 2010-11 were in 11 categories. The Petroleum Minister congratulated the eight companies in the public and private sector and the individuals who received the awards.

The leading PetroFed award winners were Indian Oil and ONGC. All awardees of PetroFed awards were presented a trophy and a citation.