The government has no plans to decontrol diesel pricing but wants consumer to "get used" to changes in petrol rates being effected every fortnight.
"There is no immediate plan to decontrol diesel or LPG as they have cascading effect (on general prices)," Minister of State for Petroleum and Natural Gas R P N Singh told reporters in New Delhi.
While the government had in June last year freed petrol pricing from its control, it continues to dictates retail rates of diesel, cooking gas (LPG) sold to households and kerosene sold through public distribution system (PDS).
State-owned oil firms are currently selling diesel at a record loss of Rs 13.53 per litre, kerosene at Rs 29.99 per litre and domestic LPG at Rs 287 per 14.2-kg cylinder.
"There is no meeting scheduled (of the Empowered Group of Ministers) to decide on (raising)
EGoM headed by Finance Minister Pranab Mukherjee is empowered to decide on rates of the three sensitive products.
Singh said consumers should get used to changes in prices of petrol every fortnight -- moving up if international rates rise or reducing if prices come down.
State oil firms had last month effected three price revisions in petrol - first hike rates by Rs 1.80 per litre on November 3, then reducing it by Rs 2.22 per litre on November 15 and a further cut of Rs 0.78 a litre on November 30.
On the three sensitive products, Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp are projected to lose Rs 137,605 crore (Rs 1376.05 billion) in revenues this fiscal.
The three firms are losing Rs 425 crore (Rs 4.25 billion) per day on sale of diesel, domestic LPG and kerosene at government controlled rates, which are way below cost.
