The Hindu Business Line : Oil price hike<br>Everyone should share the burden: Aiyar

THE Petroleum Minister, Mr Mani Shankar Aiyar, today reiterated that to mitigate the impact of the surging global crude prices all the three stakeholders - oil companies, Government and the consumers - would have to share the burden.

He indicated that the major chunk of this burden would be borne by the oil companies, some by the Government and the least by the consumer. Speaking after the deed of assurance signing ceremony for the Bhatinda refinery project, Mr Aiyar refused to comment on the quantum of increase.

Indications are that the Petroleum Ministry has proposed a Rs 3.25 per litre hike on petrol and about Rs 4 per litre increase in diesel prices.

Mr Aiyar also said that he had written to the Prime Minister and the Finance Minister informing them of the current situation. He said that even the States need to look at the taxes levied by them on petroleum products.

As regards the discounts offered by the standalone refiners to the oil marketing companies, the Minister said negotiations were still on.

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