(PTI)
Oil Minister Dharmendra Pradhan today ruled out a daily price review of petrol and diesel but said the government was concerned about pinching fuel prices and is working on a long-term solution. He asked state governments to tax petrol and diesel within a “reasonable and responsible” band and not continue to reap bonanza from rising oil prices. “There is no review of daily price mechanism,” he said after an event to mark receipt of first LNG cargo from Russia under a long-term contract.
Daily revision in petrol and diesel prices, which was introduced in mid-June last year, had come in for criticism after rates were hiked everyday last month in step with firming international oil rates. It was speculated that the long-term solution being worked out by the government to deal with the volatility may involve review of the daily price review mechanism.
