Fuel prices likely to come down by Diwali, ensures Minister
Posted on: 19/Sep/2017 11:42:24 AM
There may be dip in fuel prices by Diwali that falls in October this year, says Petroleum and Natural Gas Minister Dharmendra Pradhan.
This comment arises amidst the opposition parties’ comments on the increasing oil price following daily rate revision system that the government had recently introduced.
By Diwali, fuel prices may come down, the minister said during his brief visit.
Pradhan is now serving as Cabinet Minister this month. He is also handling the duties of Ministry of Skill Development and Entrepreneurship. He said the dip in oil production by 13 percent in the US because of floods is the main reason for increase in price of refinery oil.
When asked about the margin held with the oil companies, he said the government runs them. He added that things are made very clear while rolling out higher margin for these firms.
To a question about including oil under Goods and Services Tax, Pradhan said that it could be included under the GST and that it will benefit the customers in multiple ways.
