Centre to act on petrol, diesel price hike: Minister

Petroleum Minister Dharmendra Pradhan

Minister of Petroleum & Natural Gas Dharmendra Pradhan today said the Government will adopt immediate measures to check the price of petroleum products.

As a measure to make the price of petrol and diesel predictable, they will be brought under GST, the Minister said.

He added that the price fluctuation happens due to the variation in international crude oil price, and there is complete transparency in fixing the price of petrol and diesel.

The Minister also attributed natural calamities like Irma has a direct impact on the petroleum price hike. There has been drastic fall in the production of petroleum owing to these disasters, he added.

The statement comes amid reports that government has no plans to lower the excise duty on fuel, and so consumers will end up paying higher taxes for petrol and diesel.

editor@economylead.com