The Centre is deliberating on an “immediate solution” to control rising fuel prices in the country, Union Minister of Petroleum and Natural Gas Dharmendra Pradhan said on Thursday, PTI reported.
“The oil ministry is of the view to bring petroleum products under the purview of the Goods and Services Tax in order to bring down the prices of petrol and diesel,” he said.
Petrol and diesel prices rose for the 11th consecutive day on Thursday, touching Rs 77.47 for a litre of petrol and Rs 68.53 for a litre of diesel in Delhi. Petrol prices rose to Rs 80.12 in Kolkata, Rs 85.29 in Mumbai and Rs 80.42 in Chennai, according to the Indian Oil Corporation. Diesel prices touched Rs 71.08 in Kolkata, Rs 72.96 in Mumbai and Rs 72.35 in Chennai.
As industry bodies demanded a cut on excise duty on petrol and diesel prices, Pradhan said the central government had reduced the excise on fuel by Rs 2 per litre last October. He said the Centre is now looking at “short and long-term solutions”.
He claimed that global political developments were a major reason for the rise in fuel prices. “The political difference between two oil producing countries Iran and Venezuela has been a major cause behind the rise in the price of fuel in the international market,” he said, adding that a falling rupee has not helped either.