Steps To Deal With Rising Petrol, Diesel Prices Likely This Week


Steps To Deal With Rising Petrol, Diesel Prices Likely This Week

Facing “crisis situation” created by rising fuel prices, the government is likely to come out with “some steps” this week to deal with record high petrol and diesel rates, a senior official said today.

The government may not rely only on cutting excise duty, which makes up for a fourth of the retail selling price, the official said but did not elaborate.

“Rising fuel price is a crisis situation for government and it has to be handled with combination of steps. Finance ministry is consulting the petroleum ministry on rising crude prices,” he said.

More than a week after the state-owned oil firms ended a 19-day pre-Karnataka poll hiatus on revising fuel prices, petrol and diesel rates have touched record highs. Petrol costs Rs 76.87 per litre in Delhi and diesel costs Rs 68.08 a litre. In last nine days, petrol price has risen by Rs 2.24 a litre and diesel by Rs 2.15. Read More

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