Fuel prices can further be reduced if crude oil prices fall: R P N Singh
New Delhi, Nov 16 (ANI): A day after oil making companies slashed petrol prices by 3.2 percent or Rs. 1.85 per litre across the country, Minister of State for Petroleum and Natural Gas RPN Singh has said that a further rollback of fuel prices is possible.
"If oil companies continue to make profits then the prices of the fuel could further be scaled down," Singh told the media here.
"We had told you earlier when their was a hike in petrol prices that whenever the oil companies start making profits, that will immediately be passed on to the consumers. Today the oil companies have kept their promise. In the future, if the crude oil prices further fall and if the rupee will get stronger as compared to the Dollar then we will continue to pass on the benefit to the nation," Singh added.
However, the Bharatiya Janata Party (BJP) was clearly not impressed by the rollback.
Terming the rollback as unsatisfactory, BJP spokesperson Prakash Javdekar said the government should have given a minimum rollback of five rupees.
"The current two rupees rollback of petrol prices is insufficient. We had demanded earlier also that today if the government wanted to give justice to the people then the rollback should have been of atleast 5 rupees. This year in the last 10 months 5 times the prices of petrol have been hiked, which was absolutely not justified. So a 5-rupee rollback would have been good and the people would have felt that the government still cares for the people," he added.
With the latest cut of 2.22 rupees a litre, a litre of petrol in Delhi will now cost 66.42 rupees.
The cut in prices comes after the government faced criticism when state firms-Indian Oil Corp, Bharat Petroleum (BPCL) and Hindustan Petroleum-raised petrol prices earlier this month, the sixth major rise since June 2010. (ANI)
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