New Delhi: Amid speculation of hike in fuel prices, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri Monday said that his government in the past has taken measures to curb rising prices, and is ready to take more steps in this regard if required, reported news agency ANI.
He also pointed out that several states did not take measure of slashing state tax imposed on fuel, which could have pulled down the prices further.
While speaking at the Rajya Sabha, the minister said, "When we saw that relief needs to be provided to consumers, PM slashed rates on 5th Nov 2021. We took some steps & ready to take more...9 states didn't do it. Taxation is only one aspect, we've to provide relief to consumers at point of consumption."
Puri also gave a comparative data of fuel price hike in USA, Canada, Germany, UK, France, Spain and Sri Lanka during the same period.
"I have the comparative data for the USA, Canada, Germany, UK, France, Spain, Sri Lanka & India. In all those countries, the price of petrol during this representative period has gone up by 50%, 55%, 58%, 55%. In India, it has gone up only by 5%, added Puri, as quoted by ANI.
In November last year, ahead of the sate assembly elections, the government had slashed fuel prices. But speculations are now rife that Indian oil companies may increase the rates in view of the escalating oil prices due to the Russian invasion of Ukraine.