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Less oil production in OPEC affects fuel price: Pradhan

ANI  |  Bhubaneswar (Odisha) [India] 

Union and on Sunday said the hike in the fuel prices is due to the less production of in the Organization of the Exporting Countries (OPEC) and hike in price in the international market.

However, the also assured the citizens that the will soon take out a solution to tackle the situation.

Talking to media, Pradhan said, "I accept that citizen of and especially the middle-class family have to suffer a lot due to price hike of It's not in our hand. There is less production of oil in countries. The will soon come out with a solution."

He further said that ever since the US pulled out of the nuclear deal, the price of has been increased in the International market.

"The fight between and is the most effective thing which leads to price hike of in the International market," he added.

The prices of petrol and diesel touched an all-time high on Sunday causing inconvenience to the public.

The petrol and diesel prices have been increased by 17 paise a litre and 21 paise per litre respectively in

With this, petrol prices hit a 56-month high of Rs 76.24 per litre while diesel prices touched a record high of Rs 67.57 in the capital.

In April, Pradhan said the Centre and the state governments have been considering bringing the products under the ambit of Goods and Services Tax.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, May 20 2018. 19:28 IST
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