Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Wednesday said the government wants petrol and diesel to come under GST. The move will bring predictability to cost, he said.
He also said there was a dip of 13% in refinery production due to Texas Hurricane. The crude oil price will ease soon.
His statement comes days after Pradhan ruled out cutting taxes on petrol and diesel to cushion the impact of rising international oil prices that has led to petrol rates increasing by over Rs 6 per litre since the beginning of July.
State-owned oil companies in June dumped the 15-year-old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost. Rates during the first fortnight dropped but have since July 3 been on the rise.
While petrol prices have increased by Rs 6.08 to reach Rs 69.12 a litre in Delhi, the highest since August 2014, diesel rates have risen by Rs 3.65 to Rs 57.01.
The Congress on Wednesday slammed the Prime Minister Narendra Modi-led government in the wake of hike in fuel prices and urged the Centre to pass on the benefit of 50% reduction in international prices of crude oil to the common person.
The Congress party asked the Centre to stop filling its coffers by looting people of the nation and bring the 'achhe din' which it promised.
(With PTI inputs)
Details are awaited
Minister Dharmendra Pradhan on Wednesday ruled out cutting taxes on petrol and diesel to cushion the impact of rising international oil prices that has led to petrol rates increasing by over Rs 6 per litre since the beginning of July.
State-owned oil companies in June dumped the 15-year-old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revisionto instantly reflect changes in cost. Rates during the first fortnight dropped but have since July 3 been on the rise.
While petrol prices have increased by Rs 6.08 to reach Rs 69.12 a litre in Delhi, the highest since August 2014, diesel rates have risen by Rs 3.65 to Rs 57.01.
"That situation has not come where we should relook at tax structure," Pradhan told reporters on the sidelines of an industry event here.
