Expert panel to examine petroleum products’ pricing

NEW DELHI - The government has constituted an expert group to examine and give its recommendations on pricing of petrol, diesel, cooking gas and kerosene, the petroleum ministry said Thursday.

The panel, to be headed by former Planning Commission member Kirit S. Parikh, will give its report within three months.

“The panel will make recommendations for viable and sustainable pricing policy for these products,” the petroleum ministry said, adding it would also examine the current taxation structure and suggest how to rationalise the levies of central and state governments.

The panel has also been asked to examine the financial health of the state-run petroleum retailers and recommend how they can be compensated for selling fuel products below cost.

In a bid to protect consumers, the government has often intervened and denied permission to state-run oil retailers to charge market prices.