New Delhi: Fuel prices rose on Monday again. In the national capital, petrol and diesel prices were at Rs 82. 72 per litre and Rs 75.46 per litre respectively. That is a rise of Rs 0.08 from Sunday. In Mumbai, petrol was priced at Rs 88.18 per litre and diesel was at Rs 79.11 per litre which is an increase of Rs 0.09 respectively.Also Read - West Bengal CM Mamata Banerjee Meets PM Modi, Discusses Covid Situation, Vaccines During Talks
It is reported that Prime Minister Narendra Modi will on Monday brainstorm with chief executives of top global and Indian oil and gas companies on emerging energy scenario. Despite the government’s move earlier this month to reduce VAT on fuel prices by Rs 2.5 and several BJP-ruled states announcing a similar rate cut on petrol and diesel prices, there has not been much relief for the common as the petrol reached Rs 82.72 per litre in Delhi and Rs 88.18 in Mumbai on Sunday. Also Read - Basavaraj S Bommai Elected as Next Karnataka CM; to Take Oath Tomorrow at 11 AM | Highlights
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With the opposition cornering the government over spiraling fuel prices, the issue has become a major concern for the Narendra Modi government at the Centre as it comes ahead of the Assembly elections in Madhya Pradesh, Rajasthan, Chhattisgarh and Mizoram and also the Lok Sabha elections due next year.
PM Modi also held a review meeting with Finance Minister Arun Jaitley and Petroleum Minister Dharmendra Pradhan at the national capital on Friday.(check the live petrol and diesel price here)
Sources said Saudi Oil Minister Khalid A Al Falih, BP CEO Bob Dudley, Total head Patrick Fouyane, Reliance Industries Chairman Mukesh Ambani and Vedanta chief Anil Agarwal are expected to attend the meeting on Monday.
The meeting, coordinated by the NITI Aayog, is likely to focus on challenges posed by volatile oil prices and the US sanctions on Iran. The meeting would look at measures to attract investments and steps for making it easier to do business in India.
Sources said reforms initiated in the last four years in the oil and gas sector, including open acreage policy, pricing reforms, and liberalised licensing policy, will be showcased and suggestions would be sought on what more can be done to hasten growth.
The Prime Minister in 2015 had set a target of reducing India’s oil dependence by 10 per cent to 67 per cent (based on import dependence of 77 per cent in 2014-15) by 2022. Import dependence has only increased since then and the government is now looking for ways to raise domestic output.
Organization of the Petroleum Exporting Countries (OPEC) Secretary General Mohammed Barkindo and India’s Oil Minister Dharmendra Pradhan would also attend the meeting, they said.
Also likely to attend the meeting are ONGC Chairman and Managing Director Shashi Shanker, Indian Oil Corporation (IOC) Chairman Sanjiv Singh, GAIL India head B C Tripathi, Hindustan Petroleum Corp Ltd (HPCL) Chairman Mukesh Kumar Suran, Oil India Chairman Utpal Bora and Bharat Petroleum Corp Ltd (BPCL) Chairman D Rajkumar.