Fuel price hike: Holistic strategy to find a long-term solution, says Oil Minister Dharmendra Pradhan

The government is planning a “holistic strategy” to find “long-term solution” to a spike in petrol and diesel prices triggered by a spurt in international rates, Oil Minister Dharmendra Pradhan said today.

The government is planning a “holistic strategy” to find “long-term solution” to a spike in petrol and diesel prices triggered by a spurt in international rates, Oil Minister Dharmendra Pradhan said today. He did not share any details of the strategy. Petrol and diesel prices were today hiked for the 15th day in a row, taking the cumulative increase this month to the highest in at least five years. Petrol price has been hiked by Rs 3.64 a litre and diesel by Rs 3.24 in Delhi since state-owned oil firms ended a 19-day pre-Karnataka poll hiatus to resume daily price revision on May 14.

The prices are at an all-time high. “I have already categorically stated (on) this issue several times. The present oil price hike is due to three main factors. Hike in the international price of crude, fluctuation in the dollar and Indian currency ratio, and some of the tax issues are also there,” he told reporters here. Petrol in Delhi costs Rs 78.27 a litre and diesel is priced at Rs 69.17. Delhi has the lowest fuel price among all…….   Subscribe to Read More…

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