Misnomer to campaign that fuel prices are at all-time high: Dharmendra Pradhan

Petroleum Minister Dharmendra Pradhan on Wednesday said petrol and diesel prices are governed by an international price mechanism and it was a misnomer to campaign in such a way that fuel prices are at an all-time high.

“In the last 300 days, there have been around 60 days of increase in price (and) in around 7 days in petrol and 21 days in diesel we have decreased the price. And for almost 250 days we have not increased or decreased prices… So, it’s a misnomer to campaign in that way that it is all-time high,” he told Rajya Sabha.

Replying to questions in the Rajya Sabha, the minister said the centre has raised the excise duty and states hiked value-added tax (VAT). He noted that the central government has also reduced prices.

Pradhan said international crude oil price is an indicator but international product price is the benchmark.

“In our country state governments and the union government are careful about their tax collection because everybody has their own welfare commitment, developmental priorities for that they need some resources from this route