Oil price rise in India is way below global price hikes: Hardeep Singh Puri
The minister also highlighted India's commitment to accelerating a just and sustainable energy transition at the ministerial dialogue on India-US strategic clean energy.
Petrol prices across the four metros increased by over Rs 3 per litre in 12 days after dynamic pricing system was resumed on May 14, data on the Indian Oil Corp (IOC) website shows.
In the national capital, petrol prices rose Rs 3.20 per litre during the period and was sold at Rs 77.83 per litre on Friday.
The revision on a daily basis resumed after the prices remained stable for 19 days as IOC had suspended the dynamic pricing system till May 13.
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Prices of the key transportation fuel in the other major cities of Kolkata, Mumbai and Chennai were at Rs 80.47, Rs 85.65 and Rs 80.80 a litre, up Rs 3.15, Rs 3.17 and Rs 3.37 from the levels on May 13, according to the data on the IOC website.
With consumers feeling the heat of surging fuel prices, there have been demands and suggestions from various quarters, including from within the government, for immediate action to curb the prices.
Road Transport and Highways Minister Nitin Gadkari on Friday said petrol and diesel should be brought under the Goods and Services Tax regime to curb the price hike.
“It will be good if fuel prices are brought under GST. This will not only reduce the fuel prices but will also increase the government’s revenue,” Gadkari said.
Diesel prices, which have already hit all-time highs, also rose around Rs 3 a litre during the period.
In Delhi, Kolkata, Mumbai and Chennai, diesel was sold Rs 68.75, Rs 71.30, Rs 73.20 and Rs 72.58 per litre, respectively on Friday, up Rs. 2.82, Rs 2.67, Rs 3 and Rs 3.02 from the prices in May 13.
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