Pradhan says govt does not interfere in fuel pricing

Oil minister Dharmendra Pradhan Tuesday said the government does not interfere in the pricing of petroleum products which had been deregulated, allowing state-owned retailers to fix rates based on the international benchmark.

The comment came as criticism mounted on the move by the government to ask state-owned oil PSUs to subsidise petrol and diesel by Re 1 per litre to make retail price cut look bigger after it cut excise duty on the fuels by Rs 1.50 a litre.

Global oil major BP, which secured a licence to open petrol pumps in the country but hasn't started fuel retailing yet, Monday said: "Price controls will not be good for the fuel sector."