New Delhi, Jul 27: Defending the increase in fuel product prices and their de-regulation, Government today said the rise in their cost was "minimal" and such a decision was needed to improve the financial health of oil marketing companies.
"The price increases, particularly in respect of cooking gas, that is domestic LPG and PDS kerosene, have been quite minimal," Petroleum and Natural Gas Minister Murli Deora said in a statement in Lok Sabha, as opposition members trooped into the well shouting slogans to protest the hike.
Maintaining that pricing reforms were aimed at fiscal consolidation, he said the government has made it clear that "in case international oil prices display high volatility, the government will suitably intervene in the pricing of these products".