Moily shies from diesel hike but ropes in Kohli, Nehwal for fuel-saving plan

India has no plans to raise diesel and other key subsidised fuel prices at present, Oil Minister M Veerappa Moily told reporters on Tuesday, as he announced measures aimed at saving $5 billion from the country’s huge fuel bill.

Moily, who has said he wants to find savings of up to $25 billion on oil bills, outlined measures including public awareness campaigns which he said could help the world’s fourth-biggest energy consumer reduce fuel costs.

According to a report in the Economic Times, Moilywould take help of sports stars Virat Kohli and Saina Nehwal to conserve fuel worth billions of dollars in current financial year and has launched a Rs 50 crore fuel conservation campaign, which includes encouraging use of bicycle, training of 300,000 bus drivers of state road transport corporation and providing fuel saving tips to car owners and housewives.

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[caption id=“attachment_1086619” align=“alignleft” width=“380”]  Oil Minister M. Veerappa Moily has suggested pricking the ballooning oil bill with everything from a street theatre campaign encouraging lower fuel use, to shutting fuel stations, to increasing imports from Iran. AFP[/caption]

Other measures include asking state-owned oil firms to keep crude imports at 2012-13 level of 105.96 million tonnes that will save USD 1.76 billion in foreign exchange

Prime Minister Manmohan Singh had asked Moily to prepare a plan to cut oil import bill by at least $25 billion.

Moily also said India has a “serious engagement” with sanctions-hit Iran over oil imports. Moily has said he could save $8.5 billion in foreign exchange outflows by raising imports of Iranian crude, which India pays for partly in rupees.

With inputs from Reuters