The remarks came after the comments from India's Oil Secretary, Pankaj Jain, suggesting a price drop last month and media reports indicating that Maharashtra's state elections are expected in early November.
Union Minister of Road Transport and Highways Nitin Gadkari on Monday clarified that he is not against providing incentives for any particular fuel technology.
To combat the rising levels of air pollution, Union Transport Minister Nitin Gadkari today suggested a 10% GST increase on…
With the hike in price, the state government aims to generate Rs 600 crore per annum as revenue, said officials.
The Central government has slashed windfall tax on crude oil production to zero from Rs 3,500 rupees per tonne, which became effective from today, according to an official notification.
Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised on a daily basis.
After touching the $ 74 a barrel mark last week, benchmark Brent crude is marginally lower now at around $ 72 a barrel.
Across the country as well the petrol and diesel prices remained static on Thursday but their retail rates varied depending on the level of local taxes in a particular state.
This pause in prices came after fuel prices increased for 41 days in the current financial year. The 41 increases have taken up petrol prices by Rs 11.44 per litre in Delhi. Similarly, diesel rates have increased by Rs 8.74 per litre in the national capital.
Global crude oil prices have fallen in the past few days but have again firmed up over $71 a barrel now. Accordingly, in the national capital, petrol continues to be sold for Rs 101.49 per litre and diesel at Rs 88.92 a litre.
