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Government working out formula to reduce fuel prices: Amit Shah

The petrol prices, which remained stable during the Karnataka election campaign despite the fall of the rupee, have gone up.

By: ENS Economic Bureau | New Delhi |
Updated: May 23, 2018 2:07:14 am
Steps to deal with rising petrol, diesel prices likely this week The petrol prices in Delhi are the cheapest among all metros and most state capitals. (File)

With the spiralling petrol prices having the potential to damage the ruling party’s prospects in the upcoming elections, Bharatiya Janata Party (BJP) president Amit Shah that the government was working out a formula to bring down the prices and ease the burden on consumers.

Shah, who had refused to respond on Monday when asked about increasing fuel prices, on Tuesday said the government has been following the matter seriously. “The government is taking the matter of oil prices seriously. Petroleum minister will have a meeting with the officials of the oil companies tomorrow. We are working out a formula to reduce the prices,” he said, adding that formula is likely to be chalked out within three-four days.

The petrol prices, which remained stable during the Karnataka election campaign despite the fall of the rupee, have gone up. Petrol costs Rs 76.87 per litre in Delhi and diesel costs Rs 68.08 a litre. In the last nine days, petrol price has risen by Rs 2.24 a litre and diesel by Rs 2.15 a litre.

The Congress has, meanwhile, hit out at Prime Minister Narendra Modi for the hike in fuel prices, claiming that he was behaving like a king who was not bothered about the plight of his citizens. Addressing reporters, Congress spokesperson Pawan Khera asked the Central government to bring petrol and diesel under the ambit of GST, reduce the central excise on petrol and diesel. He said that there has been a 111.7 per cent increase in excise duty on petrol and 443.06 per cent hike in excise duty on diesel since the BJP government came to power. Khera claimed that central excise duty has been hiked 12 times since the BJP came to power.

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