Looking to arrest rise in fuel price: Petroleum minister Dharmendra Pradhan

The cry for cut in excise duty on petrol and diesel increased on Monday as diesel prices touched its highest ever in the history in Mumbai touching Rs 72.21 a litre, while petrol prices in the city touched the highest in almost five years at Rs 84.40 per litre. 

The prices of diesel was seen at Rs 67.82  a litre in Delhi, Rs 70.37 in Kolkata and Rs 71.59 in Chennai. Meanwhile, petrol prices in Delhi was seen at Rs 76.57 a litre, Kolkata at Rs 79.24 and Chennai at Rs 79.47  a litre on Monday. Calming the nerves of consumers, petroleum minister Dharmendra Pradhan on Monday said the government is looking into options to bring the petrol and diesel prices under control. “Various alternatives are being looked,” Pradhan said.  

Meanwhile, industry associations too stepped in on Monday demanding a cut in excise duty of petrol and diesel. “Unless swift action is taken to address the situation, the economic growth will again head towards a speed-breaker. Amongst the most immediate actions that can be taken by the government is to bring down the excise duty on fuel,” said Rashesh Shah, President of industry body FICCI.