Petroleum and Natural Gas minister Dharmendra Pradhan has come out to somehow console the common man, reeling under the pressure of continues rise in petrol and Diesel. Terming the staggering price rise as temporary due to weakening of global currencies against dollar, he said; “Today, there is a surge in the price of crude oil in the international market. Other currencies of the world have weakened in comparison to the Dollar, which also has an impact on the Indian currency. Hence, all this is temporary.”
Regarding crude price situation that will prevail in coming days, Pradhan said; “OPEC had said to increase the production of oil by one mn barrel per day but it has been two months, but they have not done this so far. The situation in Iran has also made situation tensed and they are also a factor for the hike in fuel prices.”
