Fuel price hike: Pradhan blames ‘isolated’ US policies

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BHUBANESWAR: GoI minister for petroleum and natural gas Dharmendra Pradhan on Friday blamed the “isolated” policies of the US for the “abnormally” rising fuel prices in the international markets.
He said the government of India is concerned about the spiralling prices of petrol and diesel and is taking all measures to check them.
“Due to the isolated policies of America, the value of currencies across the world has fallen in comparison to the US dollar. India’s currency has also been affected and the price of fuel has increased abnormally,” he told reporters on the sidelines of a programme here.
“Both the factors — rise in fuel prices and devaluation of rupee — (which) are affecting the economy of India are external reasons,” Pradhan added.
The Indian rupee had slumped to a record low of 71 against the US dollar by falling 26 paise on persistent demand for the US currency amid rising crude prices.
Fuel prices were again hiked on Saturday with petrol and diesel prices touching a new record high in several metropolitan cities, including Delhi and Mumbai. The price of petrol has been increased 16 paise to Rs 78.68 per litre in Delhi, against Rs 78.52 on Friday, while diesel is being retailed at Rs 70.42 per litre.
In Delhi, the fuel rates are the cheapest in comparison with all other metros and most state capitals due to lower sales tax or VAT.
In Mumbai, petrol is sold at Rs 86.09 per litre and while diesel rates stood at Rs 74.76.