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"All price hike or price reduction... proposals are under serious consideration. We have not taken any decision," he told reporters here.
The ruling UPA's political leadership is holding consultations on options like raising diesel and LPG prices to cut an unprecedented Rs 1,60,000 crore revenue loss expected from selling auto and cooking fuel below cost this fiscal.
He refused to be drawn into what his ministry was proposing or when and at what forum would such a decision be taken.
"What Cabinet will discuss, that is a matter which I cannot disclose. What Cabinet proposal will be there, I don't think it is a matter of discussion here," he said.
The ministry is suggesting revision in diesel, domestic cooking gas (LPG) and kerosene rates to the Cabinet Committee on Political Affairs based on recommendation of the Vijay Kelkar Committee, which was appointed by the Finance Ministry to suggest a roadmap for fiscal consolidation.
"(Kelkar Committee) report has already been submitted. He has given number of proposals. That is under serious consideration of the government," Moily said.
The panel had recommended an immediate hike in price of diesel by Rs 4 per litre, of kerosene by Rs 2 a litre and of LPG by Rs 50 per cylinder. Thereafter, it suggested raising rates on a monthly basis till the revenue losses are wiped off.
Moily refused to comment on his ministry's wishlist for the Budget 2013-14 saying taxation matters were a perogrative of Finance Minister P Chidambaram.
He refused to comment on raising supply of subsidised cooking gas cylinders for households to nine a year from the current cap of six saying the moment he utters a word, he would get a notice from the Election Commission.
Model code of conduct is in place as Assembly elections in three states have been declared.
Price of diesel, which currently costs Rs 47.15 per litre in Delhi, was last revised on September 14 when it was hiked by a steep Rs 5.63 per litre. Kerosene rates have not changed since June 2011 and it currently costs Rs 14.79 per litre in Delhi.
Subsidised LPG costs Rs 410.50 per 14.2-kg cylinder and any household requirement beyond current cap of 6 cylinders is to be bought at near market price of Rs 895.50 per bottle.
State-owned oil companies currently sell diesel at a loss of Rs 10.16 per litre, kerosene at Rs 32.17 a litre and LPG at Rs 490.50 per 14.2-kg cylinder.
The government should de-license all diesel car and SUV manufacturing and supply the diesel for movement of essential goods only - by trains and by diesel commercial vehicles run by railways where rail access in not in place. Diesel for all other consumption should be priced based on break-even for diesel imports.
Govt. is seriously considering increase in prices of LPG, Diesel, Kerosene oil may be other left out commodities. They have noticed the losses of the oil companies, but they have not notices the pay packages their staff is getting. Govt. is not serious in increasing LPG cylinders which decision is pending since long.
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PETROL - Rs.500 PER LITRE DIESEL - Rs.500 PER LITRE LPG - Rs.7,500 for 10 kgs ELECTRICITY - Rs.100 per unit from the first unit KEROSENE - Rs.250 per litre With these prices, no oil company will incur loss and no one need to bother revising prices for at least next 10 years.
