Government Looking At Short-Term, Long-Term Solutions On Petrol, Diesel Prices: Oil Minister

Rising global crude oil prices are largely behind the surge, but fuel is also heavily taxed by state and central authorities, accounting for about 40-50 per cent of the retail cost of petrol and diesel.

Government Looking At Short-Term, Long-Term Solutions On Petrol, Diesel Prices: Oil Minister

In Delhi, petrol costs Rs 77.47 ($1.13) a litre and diesel sells at Rs 68.53 a litre

New Delhi: The government is trying to get a resolution soon on tackling rising fuel prices, and it is looking at both short-term and long-term solutions, said Oil Minister Dharmendra Pradhan on Thursday.

Prices of diesel and petrol in India have surged to a record high.

Rising global crude oil prices are largely behind the surge, but fuel is also heavily taxed by state and central authorities, accounting for about 40-50 per cent of the retail cost of petrol and diesel.

In Delhi, petrol costs Rs 77.47 ($1.13) a litre and diesel sells at Rs 68.53 a litre.

($1 = Rs 68.3850)
© Thomson Reuters 2018