These prices might differ from city to city and pumps to pumps depending upon the local taxes and transportation cost. Except September 5, September 12 and September 19, there has been a continuous hike in petrol prices in the country over the past few weeks.
Fuel prices have seen a relentless hike over the past few weeks. The opposition parties have questioned the Central government for not doing enough to check the prices, whereas the government has said that it is due to the global factors. Department of Economic Affairs Secretary Subhash Chandra Garg on Friday said that discussions are taking place with the United States regarding reduction of oil imports from Iran.
“We are in talks with the USA and they told us to reduce the import from Iran significantly. We have done that to some extent. As clarity in the situation emerges, steps will be taken accordingly by the government by November 4,” Garg told news agency ANI.
Garg also mentioned that discussion on trading of oil terms of Indian rupee might also take place if required. The persistent surge in petroleum prices is due several factors including falling Indian currency value against the US dollar, high excise duty and increase in crude oil prices. The aftermath says that depreciation of rupee ends up with an increase in import of crude oil as all transactions are done in US dollars.