Union Finance Minister Nirmala Sitharaman has called rising fuel prices in the country a ‘dharm sankat’, adding that the Centre and the states needs to sit together to find a solution.
Talking to reporters, the FM said that she cannot promise that the fuel prices would reduce any time soon but the Centre and the states will try to find a mid way.
“I cannot make any promises to reduce fuel prices, just by holding the positions of Union FM. Fuel price is an issue which no answer except for reducing the price would convince anyone,” she said,
She further added that the tax generated by the Centre and the states due to increases in price is vicious for both the governments. “But there is a revenue generation happening both by the Centre and the states. There has been an equal hike in Brent prices since November. And equally, the (oil) production predicted by Opec countries is also likely to come down further, which may aggravate the stress on price. The states and the Centre will have to sit together to se if there is a way in which we can come out.”
When asked whether petrol and diesel should be brought under GST, she said that’s something the GST council will take a call on. “Oil marketing firms decide whether to reduce or hike prices, depending upon the cost incurred in importing crude, refining it, distribution and logistics, ” the FM said.
Petrol and Diesel prices saw no hike on Sunday, putting a cap to the raise that has been witnessed for last 12 days.