Fuel Prices Will Come Down After Winters: Petroleum Minister Pradhan

Mumbai: Petroleum Minister Dharmendra Pradhan has said that the fuel prices will “come down a little” after winters and attributed the rising rates to an increase in demand during the season.

“The increase in petroleum prices in the international market has also affected consumers. Prices will come down slightly as winter ends. This is an international matter, the price is high as demand increases, it occurs in winter. The price will come down,” the petroleum minister told news agency ANI.

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Petrol, 90.93 per litre and diesel 1 were sold at 81.31 in Delhi while the former cost ₹97.34 in Mumbai and the latter was ₹88.44 per litre. In Kolkata, the price of petrol was 94.68 per litre and diesel Rs 84.20 per litre, while they were selling in Bangalore for ₹ 93.98 and .2 86.21 respectively.

The price rise is against the backdrop of low global supply. As punches hit consumers’ pockets as rates rise in the second half of the month, India has urged Petroleum Exporting Countries (OPEC) and OPEC Plus to reduce production cuts.

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“Due to the rise in crude oil prices in international markets, consumer prices (for petrol and diesel) have gone up. It will gradually soften. . Global supply was reduced due to Covid in turn affecting production as well,” Pradhan had earlier said.

Meanwhile, Reserve Bank of India (RBI) governor Shaktikanta Das said the Centre and state governments need to work on a coordinated action to bring down the taxes on petrol and diesel prices.

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