Fuel chal­lenge re­mains, govt ex­plores long-term so­lu­tions

PM re­views ways to re­duce im­port, up use of bio­fu­els

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE - DNA Correspondent correspondent@dnain­dia.net

New Delhi: With no let-up in re­tail fuel prices de­spite the Cen­tre’s in­ter­ven­tion, Prime Min­is­ter Naren­dra Modi has called for al­ter­na­tive mea­sures to curb rates in fu­ture, sources told DNA. Soar­ing oil prices have be­come a huge chal­lenge for the Cen­tre as oil mar­ket­ing com­pa­nies can’t af­ford to re­peat­edly sub­sidise petrol and diesel.

A week af­ter slash­ing ex­cise duty on fuel, PM Modi on Fri­day met Fi­nance Min­is­ter Arun Jait­ley, Com­merce Min­is­ter Suresh Prabhu and Oil Min­is­ter Dharmendra Prad­han and dis­cussed ways to shift the coun­try’s en­ergy de­pen­dence towards bio­fu­els.

The PM re­viewed the sta­tus of pro­duc­tion of oil and gas in the coun­try. The govern­ment wants do­mes­tic pro­duc­tion of oil and gas to be in­creased as it feels cur­tail­ing oil con­sump­tion is not a res­o­lu­tion.

A litre of petrol cost Rs 82.48 in Delhi, while the rate was Rs 87.94 in Mum­bai.

The high-level meet­ing also talked about cut­ting oil im­port by 10 per cent by 2022, said sources. Turn to P4

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