Petroleum Minister lists out probable reasons behind fuel price hike

Petroleum Minister lists out probable reasons behind fuel price hike

Amid protests, Union Petroleum Minister Dharmendra Pradhan highlighted the reasons behind rising fuel prices, which included reduced fuel production and manufacturing in International market and COVID-19.

On the international market, Pradhan said reduced production is making the consumer countries suffer.

"We have continuously been urging the OPEC and OPEC plus countries that it should not happen.

We hope there will be a change," he added.

He further added that both Centre and State governments have to collect tax for various development works.

"Spending on development work will generate more jobs.

Government has increased its investment and 34% more capital spending will be done in this budget.

State governments will also increase spending.

This is why we need this tax but there is also the need for balance.

I believe Finance Minister can find a way," said Petroleum Minister Dharmendra Pradhan.