You are here: Home » News-IANS » Politics
Business Standard

Non-reduction of fuel prices tantamount to robbery: Ramadoss

IANS  |  Chennai 

PMK Founder on Saturday termed the of petrol and diesel despite there being a decline in global prices as robbery.

In a statement issued here, Ramadoss said that the international prices have now fallen by 22.87 per cent to $60.13/barrel from $77.96/barrel on October 3, 2018.

Consequently, there should have been a commensurate reduction in the of petrol and diesel.

In other words, the prices of petrol and diesel should have been cut by Rs 19.34/litre and Rs 18.20/litre respectively, and retailed at Rs 67.84/litre and Rs 61.37/litre, he said.

The price of in the international market on November 1, 2017 was $60/barrel, which is equal to the current price, Ramadoss said.

According to him, on November 1, 2017, petrol was retailed at Rs 71.65/litre and diesel at Rs 60.79/litre.

Currently, petrol and diesel are being sold at Rs 80.90/litre and Rs 76.72/litre, respectively.

normally details how the of oil are fixed, but the has been silent since October 29, he said.



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

First Published: Sat, November 10 2018. 15:26 IST