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June 18, 2001 		Feedback  
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Naik rules out hike in petro-product prices

Petroleum Minister Ram Naik on Monday ruled out any immediate hike in prices of petroleum products as international oil prices had firmed, even as the oil import bill had reached Rs 800 billion.

The crude oil prices, on an average, have been around $27-28 a barrel since May, 2001, he told reporters after dedicating to the nation the Rs 3.97-billion LPG recovery plant at Gandhar in the neighbouring Bharauch district.

In response to a query, he said as a consequence of the unavailability of gas, it was not possible to concede to Gujarat's demand for a greater allocation of gas for power projects in the state.

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