Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Thursday said that the reduced value of the Indian rupee in comparison to the US dollar is causing fuel price hike.
Speaking to ANI, Pradhan said, “It is due to various circumstances in international (oil) market and mainly the value of Indian Rupee has reduced in comparison to US Dollar, which has led to a surge in oil prices. We are trying to control the prices.”
When asked whether petrol and diesel would be brought under the ambit of Good and Services Tax (GST), Pradhan underscored that the aspect was being considered by the Centre.
“The Centre has taken this (fuel hike) under consideration. I am confident that we can find a way, where common people will not be affected by such fuel hikes,” Pradhan replied to a query on the Centre’s move to curb steep fuel hike prices.
Pradhan further said that the Centre under Prime Minister Narendra Modi will soon take quick measures to give some relief to the common people from the sky-rocketing fuel prices. Read More
Latest posts by ET Energy World (see all)
- India to add 58,000 Mw solar power capacity in next four years: CRISIL - August 18, 2018
- India bans petcoke import for use as fuel - August 17, 2018
- Be alert! Iran oil sanctions can send macro defense packing - August 17, 2018