FUEL PRICES MAY COME DOWN BY DI­WALI: PRAD­HAN

Resource Digest - - NEWS IN BRIEF -

Petroleum and Nat­u­ral Gas Min­is­ter Dhar­men­dra Prad­han said that fuel prices may come down by Di­wali, which falls (rpt) falls next month.

The com­ments come amid crit­i­cism by op­po­si­tion par­ties of a sharp rise in oil prices af­ter the daily rate re­vi­sion mech­a­nism was in­tro­duced by the gov­ern­ment re­cently. “Fuel prices may come down by Di­wali fes­ti­val,” said the min­is­ter who was on a brief visit here.

Prad­han, who has been el­e­vated 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 be­cause pro­duc­tion of oil dropped by 13 per cent in the US due to floods.

On be­ing asked about mar­gin of the oil com­pa­nies, he said they are be­ing run by the gov­ern­ment.

“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.

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