It has been reported that Petroleum Minister Dharmendra Pradhan hosted a meeting with the major upstream oil firms last week in order to determine how fuel prices might be kept low. This comes at a time when global crude oil prices have come off the lows that they had reached in previous years, and the cost to Indian consumers of fuel has skyrocketed in consequence. There is considerable political pressure on the government as a result of these higher prices at the pump, which are partly caused by fuel taxes.
Mr Pradhan is considering solutions that involve possibly a windfall tax
