There has been no official communication from the centre to regulate petrol and diesel prices according to officials from Public Sector Oil Marketing Companies.
Speaking at the sidelines of The Energy Forum, Hindustan Petroleum Chairman, M K Surana said that there has been no official letter or communication from the centre to regulate prices. But, following the government decision to reduce excise duty as well as directing the OMCs to absorb a certain amount of volatility in global oil prices, the companies will continue to maintain a discount of ₹ 1 a litre on petrol and diesel, till being asked by the centre to not do so.
On October 4, Finance Minister Arun Jaitley announced the government’s decisiong to PSU oil companies to absorb ₹ 1 a litre to cushion the impact of global oil prices at the retail end. Read More