<p>"I don't see the need to raise prices if international crude prices remained around $70 to $75 a barrel," said Govinda Rao, a member of the panel, on the sidelines of the release of the Economic Outlook for 2009-10.<br />"We expect global crude oil prices around $70 to $75 per barrel. If prices go beyond it consistently, then the numbers will have to change," Rao said.<br />Global oil price has now hit a one-year high of $79 a barrel.<br />In August, the government hiked prices of petrol and diesel by Rs.4 per litre and Rs.2 per litre respectively. <br />However, the government did not touch cooking gas and kerosene prices. The subsidy on kerosene is currently Rs.15.26 a litre and for cooking gas, it is Rs.92.96 per cylinder.</p>
<p>"I don't see the need to raise prices if international crude prices remained around $70 to $75 a barrel," said Govinda Rao, a member of the panel, on the sidelines of the release of the Economic Outlook for 2009-10.<br />"We expect global crude oil prices around $70 to $75 per barrel. If prices go beyond it consistently, then the numbers will have to change," Rao said.<br />Global oil price has now hit a one-year high of $79 a barrel.<br />In August, the government hiked prices of petrol and diesel by Rs.4 per litre and Rs.2 per litre respectively. <br />However, the government did not touch cooking gas and kerosene prices. The subsidy on kerosene is currently Rs.15.26 a litre and for cooking gas, it is Rs.92.96 per cylinder.</p>