Oil minister Dharmendra Pradhan: Government won't intervene to cut petrol, diesel prices

Cornelia Mascio
Settembre 13, 2017

A working Saurav Banerjee from Kolkata said, "In the last six months it was still manageable.But now daily, there has been a price hike and there is no reduction".

"Dynamic fuel price mechanism is the most transparent model for consumers; it can't be changed on knee-jerk basis", he said.

According to Indian Oil Corporation, effective 6 a.m. on September 12, customers are shelling out Rs. 70.38 for a litre of petrol in Delhi, Rs. 73.12 in Kolkata, Rs. 79.48 in Mumbai and Rs. 72.95 in Chennai. However, crude oil prices will ease soon."Pradhan averred that the government wants petrol and diesel to come under Goods and Services Tax (GST) and the step will bring predictability to cost".

A taxi driver in Mumbai said that the petrol price is rising day by day. In the last three years, the petrol price hit its highest at Rs 81.75 per litre in Mumbai on 1 August 2014.

The news reports brought back the ghosts of the era of regulation, when petrol and diesel price movements were much hyped events with the government dictating how much the oil refining and marketing companies could charge.

The statement comes in the wake of hike in fuel prices.The petrol and diesel prices have gone through the roof ever since the central government announced daily revision of fuel prices. Albeit, of late, the rise in the retail fuel prices was seen due the impact of hurricanes Harvey and Irma on the global fuel markets, Dharmendra Pradhan said, adding that the situation is likely to ease out in the coming days.

He also said there was a dip of 13% in refinery production due to Texas Hurricane.

Another office going citizen said the decision was "unacceptable". The price of petrol rose by 18% and that of diesel has gone up by 20% in the worldwide market over the last three months, he said.

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