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Considering steps to keep fuel prices in check, says Oil Minister Pradhan

India is particularly at risk from stronger global prices for crude oil as it is the No.3 importer of the commodity

Reuters  |  New Delhi 

India is looking at ways to keep rising fuel prices in check, its oil minister said on Monday, with retail rates for diesel and petrol touching record highs in capital city New Delhi and financial hub Mumbai. Prices at the pump have surged on the back of rallying international markets for crude oil, which last week hit their strongest since late-2014 amid ongoing production cuts led by the Organization of the Petroleum Exporting Countries (OPEC). "Various alternatives are being looked at," Dharmendra Pradhan said in a televised speech, adding that he would "work ...

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First Published: Mon, May 21 2018. 16:25 IST
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