"As per our terms, gas prices are notified in advance for each quarter. Without that a new price can't take effect. Since we were asked to keep the notification in abeyance, it was natural the earliest we could act upon was for quarter starting July," he said.
The Reliance spokesperson was asked: "What has been the further development, if any, in terms of the status quo on gas pricing called for by the Election Commission, by asking the government to put the proposed notification on the decision to hike prices on hold?"
The reply: "Our contention has always been that the reference to EC was wrong and the process thereafter served partisan interests and the complainant's political motives."
And further asked for the company's response to the allegations levelled by Aam Aadmi Party, the spokesperson said in the e-mail reply: "Every single charge, claim, half-truth has been countered in the court of the people of India."
Gas price revision was a matter of intense speculation Friday and sent all oil stocks soaring. On the Bombay Stock Exchange (BSE), among all the Sensex stocks, that of the state-run Oil and Natural Gas Corp gained the most, up a whopping 10.5 percent.
Another state-run firm, GAIL India, was next with a gain of 7.5 percent, while the scrip of Reliance Industries moved up by 2.97 percent. The sector-specific oil and gas index of the exchange itself shot up by 5.73 percent on the eventful Friday.
The oil ministry is expected to approach the Prime Minister's Office next week.
