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Govt to consider deregulating petrol, diesel prices: Deora
Government will consider deregulating petrol and diesel prices as also increasing rates of natural gas sold by state firms, said Murli Deora, who is likely to start a second term as Petroleum Minister. Separate draft Cabinet notes are ready for giving public sector Indian Oil, Bharat Petroleum and Hindustan Petroleum freedom to fix petrol and diesel prices when crude oil prices are below USD 75 a barrel and raising rates of natural gas produced by Oil and Natural Gas Corp (ONGC) and Oil India Ltd from nominated fields.

Deora, the outgoing Petroleum Minister, has been renominated to the Union Cabinet and is mostly likely to retain his ministry, breaking the jinx that no one oil minister has served a second term in the country. No one has ever completed a full five year term as Petroleum Minister and none have ever been repeated.

BJP's Ram Naik is the longest serving oil minister surviving at Shastri Bhavan for a good four-and-half years from end-1999. "First my portfolio has not been decided.

Prime Minister has not told be anything," Deora said before leaving for taking oath. He, however, said issues of deregulation of petrol and diesel prices would very much be on agenda for the new Government.

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