There is a pressure on fuel price due to imbalance in demand and supply," Pradhan said while speaking to media in Betul
The price hike on Monday came after three days of unchanged rates.
This lower production had caused an imbalance in demand and supply, the minister said
With Monday's increase, petrol is being sold at Rs 84.95 a litre in Delhi from previous day price of Rs 84.70 a litre
While the pandemic pummelled tax collection across the board, excise duty mop-up jumped 48 per cent in the current fiscal on the back of a record increase in taxes on petrol and diesel
Asking people to join the farmers' "satyagraha" against the Modi government, Rahul Gandhi spoke out in support of the ongoing protests and against rising fuel prices in the country
Petrol and diesel prices rose sharply by 25 paisa per litre on Thursday, second consecutive day
Petrol price on Wednesday touched a new high of Rs 84.45 per litre in the national capital after state-owned fuel retailers hiked prices after a five-day hiatus
Though high priced than before, petrol and diesel consumption came back to pre-Covid levels in recent months
While LPG use rose as more people cooked at home due to tighter coronavirus restrictions, India's full-year consumption of fuel never fully recovered
A day after taking petrol prices to all-time high levels in Delhi, oil marketing companies decided to keep fuel prices unchanged on Friday
In Mumbai, petrol was sold at Rs 90.83 a litre and diesel for Rs 81.07 a litre.
Petrol and diesel prices across the four metropolitan cities continued to remain static on Wednesday
Oil marketing companies kept the retail prices of petrol and diesel static on Wednesday
Diesel prices too were same as the previous levels. In Delhi, Mumbai, Chennai and Kolkata, diesel was sold for Rs 73.87, Rs 80.51, Rs 79.21 and Rs 77.44 per litre, respectively, all unchanged levels
Onion, which bore the brunt of rising inflation rate in recent months, saw deflation or fall in prices in November at 7.58%
The rise in crude oil prices may dent marketing margins if not passed on, however, some say OMCs may have a cushion to absorb
Diesel consumption, a key parameter linked to economic growth and which accounts for about 40% of overall refined fuel sales in India, edged up 0.6% month-on-month
Aviation analytics firm Cirium expects the number of P2F conversions globally will rise by 36% to 90 planes in 2021, and to 109 planes in 2022
Auto fuel prices are on the upswing in India with the pump price of petrol set to breach all-time high levels next week