The government will consider deregulating petrol and diesel prices as also increasing rates of natural gas sold by state firms, said Murli Deora, who began his second term as Petroleum Minister on Friday.
"The issue of deregulation is being discussed and it will be put up to the Cabinet for a decision," he said after taking charge of the Petroleum Ministry.
Asked about the time-frame during which the decision is likely, he said: "In about six weeks."
Jitin Prasada, one of the young turks of Congress, also took over as Minister of State for Petroleum.
Separate draft Cabinet notes are ready for giving state- run Indian Oil, Bharat Petroleum and Hindustan Petroleum freedom to fix petrol and diesel prices when crude oil rates are below $75 a barrel and raising rates of natural gas produced by Oil and Natural Gas Corp (ONGC) and Oil India Ltd from fields given to them on a nomination basis.
Deora, who became the first person-ever to get reappointed as Petroleum Minister, will introduce a rural LPG distributorship in the first 100 days.
"At present, 9,350 LPG agencies cover only 50 per cent of the population and we want to extend the coverage to every nook and corner," he said. "The Gramin LPG Vitrak scheme would be launched at locations having potential of up to 1,000 refills per month."
