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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.

--IANS

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(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
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