Subramanian Swamy terms current petrol prices “monumental exploitation by GoI”

New Delhi: BJP MP Subramanian Swamy who does not hesitate to express his views on public issues slammed the government over the hike in petrol prices.

On his twitter account, he wrote, “Petrol price at Rs. 90 per litre is a monumental exploitation by GoI of the people of India. The price ex-refinery of petrol is Rs. 30/litre. All kinds of taxes and Petrol pump commission add up the remainder Rs.60. In my view petrol must sell at max. Rs. 40 per litre”.

It seems he was referring to petrol price in Mumbai where it reached to 90.34 per liter.

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Petrol prices inch towards all-time high

It may be mentioned that petrol prices could touch an all-time high with oil marketing companies (OMCs) raising their retail price for the sixth consecutive day on Monday.

In Delhi, the price of petrol increased by a margin of 30 paisa per liter on Monday to Rs 83.71 a liter from a level of Rs 83.41 a liter on Sunday.

The OMCs also raised the price of diesel by 26 paisa per liter to Rs 73.87 a liter as against Rs 73.61 a liter a day earlier.

With the increase, retail price of petrol has inched closer to all time high levels of Rs 84 a litre that it touched two years back on October 4, 2018.

Across the country as well, retail prices of petrol is inching closer to all-time high levels and will breach the mark this week if the prices continue to rise daily.

Fuel prices hiked in international market due to US elections: Pradhan

Union Minister of Petroleum and Natural Gas, Dharmendra Pradhan said there has been a rise in fuel prices in the international market because of the recent elections in America and other reasons.

“Recently, OPEC has decided to increase production. We expect the fuel prices to stabilise soon,” he added.

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