Centre working for long-term solution to fuel price hike

Union minister Prakash Javadekar said today that the central government is working to find a long-term solution to the issue of spiralling fuel prices.

He welcomed cooperation from states to share the fuel burden and said that they too levy taxes on petroleum products.

"During the Congress regime, petrol prices were deregularised and it was supported by Trinamool Congress. During our time the whole price set up was re-regularised but still the government is working with states for a long-term solution as they are equal stakeholders," Javadekar told reporters here.

"States levy taxes on fuel and therefore we all have to come together for a solution (to the price issue)," the minister for human resource development said.

Petrol prices were deregularised in June 2010 during the Congress-led United Progressive Alliance government under Manmohan Singh.

In June last year, oil companies decided to revise prices daily instead of fortnightly as per the international practice.