OIL & GAS

Increase in fuel prices due to rise in crude oil prices, it is temporary: Dharmendra Pradhan

Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Saturday said the increase in international crude prices had led to the rise fuel prices in the country and noted that “temporary” rise will come down gradually.

Speaking to ANI, Pradhan said the government is in talks with oil-producing countries so that there is a reduction in prices of petroleum products

“Due to the rise in international fuel prices, India also had to increase fuel prices but it is temporary. Gradually they will be brought down. We are in talks with the oil-producing countries to reduce the prices.”

The minister said both the Centre and states levy taxes on fuels as these resources help in reviving the economy, especially in the situation created by COVID-19.

The prices of petrol and diesel have risen to record levels over the past few weeks. Opposition parties have been asking the government to reduce fuel prices by reducing excise duty.

Source
ET Energy World
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