Oil Ministry likely to push for a new subsidy formula prior to price hike
2009 June 24
Oil Ministry likely to push for a new subsidy formula prior to price hike; formula to move in sync with crude prices
CNBC-TV18 learns that the Oil Ministry is likely to push for a new subsidy formula prior to the price hike. According to sources, this formula will move in sync with the crude prices.
The Oil Ministry is also mulling formula linking the retail fuel prices to the Indian crude basket.
IOC
BSE: 530965 NSE: IOC ISIN: INE242A01010
Industry: Refineries
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BSE 23-Jun 16:01 Rs.544.95 -0.09% Rs.-0.50 545.45 116,120
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