Saturday, April 1, 2023

‘Taking steps to provide relief’: Hardeep Singh Puri on fuel prices

Amid skyrocketing global oil prices, Union Minister Hardeep Singh Puri on Monday said the government will take all required measures in the coming months to ensure that consumers get relief from high fuel rates.
Replying during the Question Hour in the Rajya Sabha, the Minister of Petroleum and Natural Gas also shared that a proposal to bring petroleum products under the Goods and Services Tax was taken up by the GST Council but it “did not find favour”.
India relies on overseas purchases to meet about 85 per cent of its oil requirement, making it one of the most vulnerable in Asia to higher oil prices.
Puri was responding to senior Congress leader Anand Sharma, who said it was agreed upon by the government and the opposition that petroleum products will be eventually brought under GST at the time of its introduction, and sought to know the progress been made in this regard.
“States which are acquiring high revenue from the sale of petrol and petroleum products and if I may also add liquor are normally reluctant to reduce their revenue from these two sources,” said the petroleum minister.
However, Puri said “the government will in the coming months also take whatever measures we have to, to make sure that our consumer gets relief to the extent we can.”
Observing that oil prices had shot up from USD 19.56 a barrel to USD 130 at one stage and are currently hovering around USD 109, the minister said it is emanating from a war-like situation, referring to the ongoing Russia-Ukraine conflict.
“But within that whatever space we have, vigour space, margin of persuasion, we should continue to exercise that in the interest of the Indian citizen and the consumer,” Puri told the Upper House.
Referring to accusations that the Centre is controlling fuel prices, he said these are determined by various factors and decided upon by the oil marketing companies. Puri also rejected claims of state elections influencing the decisions regarding fuel prices.
Replying to questions on oil imports from Venezuela, Puri said the country was subjected to sanctions.
Referring to Iran, which also faced sanctions on account of a nuclear deal, Puri said reports in the public domain suggest the issue was likely to be resolved, which would also bring more oil into the market.


Don't Miss

Rio hands appointment letters to chairmen and advisors

Chief minister, Neiphiu Rio officially handed over the appointment letters of the 11 newly appointed chairmen/advisors at the Chief Minister’s Office, Kohima on March...

DDCA announces U-16 boys cricket tournament

The Dimapur District Cricket Association (DDCA) has announced that the U-16 boys’ cricket tournament will commence from the second week of April.DDCA has informed...

G20 meet: Traffic advisory for Dimapur & Kohima

In view of the G20 Business meet to be held in Kohima from April 4 to 6, Dimapur police have informed that certain traffic...

Dimapur police raid restaurants, lounges

Dimapur police on March 30 raided several restaurants and lounges in Dimapur and seized more than 500 bottles of assorted liquor on March 30.PRO...

YAA holds executive meeting; resolves

Yimkhiung Akherü Arihako (YAA) held its executive meeting on March 30 at Kohima and adopted three-point resolutions to be strictly enforced for the welfare...

NTC for consultation before enactment of NM Act

Welcoming the Nagaland Municipal Act (Repeal Bill 2023), the Nagaland Tribes Council (NTC) has appealed to the government to hold consultations with all concern...
Must Read