Dharmendra Pradhan hopes fuel prices will soon be included under GST
Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Monday reacted to the fuel price hike and said that Petroleum products are worldwide commodity, whenever there is a price hike in crude oil then Indian market also gets affected.
Pradhan said the GST Council-the apex decision making body of the new indirect tax regime-should in the "interest of energy security and consumers" include petroleum products in GST.
"For consumers to get rational price mechanism, the petroleum products will have to be brought into the GST mechanism", he said, without elaborating how inclusion in GST will make petrol and diesel cheaper.
The public has blamed and urged the Central government to come up with a plan to tackle the problem of ever-rising fuel prices.
Pradhan further added that petrol and diesel prices were directly proportional to the global factors.
This is published unedited from the ANI feed.
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Petrol in the national capital now costs Rs 73.83 a litre, the highest since September 14, 2014 when rates had hit Rs 76.06.
Petrol and diesel prices have gained Rs 10.74 and Rs 11.36 per litre respectively in the last nine months in which crude oil has gained $21.87 per barrel to about $70/barrel.
Fuel pricing is based on a transparent mechanism, he said, attributing the spurt in rates to happening in global market.
The hike in fuel prices have again stoked fresh demands for the government to cut excise tax rates. As per the notification issued by state-owned oil firms, petrol and diesel rates were raised by 18 paise per litre each in Delhi.
"We have brought it to Delhi by 2018", he said. State-owned oil firms, which have been since June past year revising auto fuel prices daily, on Monday raised petrol price by 10 paise per litre and diesel by 11 paise. "Delhi's demand is about 2 million tonnes of diesel". Since then, prices are revised on a daily basis.
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