Petroleum Minister Explains Why Petrol, Diesel Prices Are Continuously Increasing

New Delhi: As the Price hike in Petrol and Diesel is increasing, Union Petroleum and Natural Gas and Steel Minister Dharmendra Pradhan has blamed the hike on reduced production by the international market.

The minister’s statement comes a day after Union Finance Minister Nirmala Sitharaman termed the fuel price hike as a ‘vexatious issue’ and proposed that the Centre and state governments should sit together and find out a way to reduce the fuel prices.

The petrol price touched ₹100 per litre in some states.

The second reason he mentioned the government need to collect taxes for the development project going on amid the Covid pandemic.

‘The international market has reduced fuel production and manufacturing countries are producing less fuel to gain more profit this is making the consumer countries suffer”, said Pradhan.

We have continuously been urging the organisation of the Petroleum Exporting Countries (OPEC) and OPEC plus countries that it should not happen. We hope there will be a change,” he said.