New Delhi, Jan 16: The Central government has reportedly asked oil companies to moderate fuel prices as global oil prices are rising lately.Also Read - SC Asks Centre to Simplify Child Adoption Process As Lakhs Of Orphan Children Waiting To Be Adopted
Despite the government’s red flag, petrol prices role to Rs 71 per litre on Monday while the prices o diesel role to Rs 61.74 per litre in Delhi. Also Read - India's Performance On Global Health Index Does Not Reflect True Picture: Govt
The mix of crude oil Indian refiners buy was selling at $67.32 per barrel on Friday. The international benchmark Brent crude was hovering at $70 a barrel, the highest level since 2014. Also Read - Single Use Plastic Ban: You Won't Get These 12 Items From Today. Full List
TOI reported that the petroleum minister passed verbal instructions to companies to moderate fuel prices, which have been rising for the past two years owing to the government’s commitment to bring the subsidy bill to zero. The prices had risen by Rs 11.77 per litre for petrol and Rs 13.47 per litre for diesel in between November 2014 and January 2016.
To ward off popular anger, the Central government had cut excise duty on fuels by Rs 2 per litre in October. It also went back on its decision to raise the price of cooking gas by Rs 4 per month.