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fuel and Natural Gas Minister Murli Deora on Friday met Prime Minister Manmohan Singh and sought a cut in civilization duties on import of basic and reduction in excise duty on petrol and diesel.The crude prices skyrocketed to $135 a barrel on Thursday and the Indian crude basket touched a evidence $125.Mr. Deora sought readjustment of duties to offset some of the collision of the high global prices and provide a cushion to the oil marketing companies (OMCs) against financial ruin on account of under-recoveries, thanks to subsidised sale of petroleum products in trade.

The get-together came on the heels of a assembly Mr. Deora had with the heads of the OMCs in the morning. “The heads of the OMCs informed me that they had not imposed any kind of freeze on release of new LPG relatives, nor was any quota set for LPG cylinders for consumers,” the Minister said. Asked what he discuss with the Prime Minister, Mr. Deora said he apprised Dr. Singh of the situation caused by the continued volatility in crude prices.Dr. Singh also told Mr. Deora that he had asked his Principal Secretary to call together a meeting of the money and Petroleum Secretaries to narrow down the differences.

Official source said the Petroleum Ministry had sought zero per cent civilization duty on crude against the present five per cent and decrease in excise duty on gasoline and diesel, but the request was not accepted by Finance Minister P. Chidambaram.