Fuel prices may come down by Diwali: Pradhan
Dharmendra Pradhan, Petroleum and Natural Gas Minister said today that fuel prices may come down by Diwali.
After the daily rate revision mechanism was introduced by the government recently, the comment comes amid criticism by opposition parties of a sharp rise in oil prices.
"Fuel prices may come down by Diwali festival," said the minister who was on a brief visit here.
Pradhan, who has been appointed as the Cabinet minister this month and given additional charge of the Ministry of Skill Development and Entrepreneurship, said prices of refinery oil went up as the production of oil dropped by 13 per cent in the US due to floods.
The margin of the oil companies are being run by the government, he added.
"And everything is crystal clear," he said, ruling out "higher margins" for the companies.
When asked about bringing oil under the Goods and Services Tax (GST), Pradhan said that he hoped that it might be brought under the GST. "It will extend enormous benefit to customers” he said.
-PTC News
