The Finance Minister Pranab Mukherjee has categorically said that the Government has no role for increase in petrol prices. Addressing newsmen in Kolkata on Sunday afternoon, Pranab Mukherjee said that the government has decontrolled the prices of petrol last year and the oil companies have increased the price as per International market rates. Mr. Mukherjee said that the price of petrol were 68 dollars per barrel in June last year and it has reached 110 dollar per barrel during the current time.
The Finance Minister said that the Government is spending crores of rupees as subsidy in petrol. He however, said, the prices of Kerosene, Diesel and gas have not yet been decontrolled and empowered committee chaired by him finalises the price of these items.
The Price of Petrol has gone up by about five rupees a litre. This came in to effect from midnight last night. Oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - decided to hike rates between 4.99 rupees and 5.1 rupees per litre in Delhi. Petrol in Delhi currently costs 58 rupees 37 paise a litre.
The new price of petrol in Indian Oil outlets in all the metros will be 63 rupees 37 paise in Delhi, 68 rupees 33 paise in Mumbai, 67 rupees 71 paise in Kolkata and 67 rupees 22 paise in Chennai. Price at Bharat Petroleum and Hindustan Petroleum outlets will vary by a few paise. The government had freed petrol price from government control in June last year.
The BJP has criticised the hike in petrol price and alleged that the government was waiting for the assembly elections to get over to make the announcement. Party spokesperson Shahnawaz Hussain said in New Delhi yesterday that government could cut down on some of the central taxes to give relief to the people.
