NEW DELHI: India needs to take a long-term view on pump prices of petrol and diesel to defend shoppers from the volatility in international markets, the rustic's regulation minister said on Wednesday, indicating the government may change its gasoline pricing mechanism.
Prices of diesel and petrol in India have surged to a record high. A litre of petrol prices Rs 77.17 ($1.13) whilst diesel is offered at Rs 68.34 according to litre.
"The government is keen that instead of having an ad hoc measure it may be desirable to have a long-term view which addresses not only the volatility but also takes care of the unnecessary ambiguity arising out of frequent ups and downs," Ravi Shankar Prasad advised a news conference.
Opposition leaders have criticised the government for failing to rein in emerging gasoline prices, a politically-sensitive factor in one of the world's largest economies.
Prices of diesel and petrol in India have surged to a record high. A litre of petrol prices Rs 77.17 ($1.13) whilst diesel is offered at Rs 68.34 according to litre.
"The government is keen that instead of having an ad hoc measure it may be desirable to have a long-term view which addresses not only the volatility but also takes care of the unnecessary ambiguity arising out of frequent ups and downs," Ravi Shankar Prasad advised a news conference.
Opposition leaders have criticised the government for failing to rein in emerging gasoline prices, a politically-sensitive factor in one of the world's largest economies.
Government to take a 'long-term' view on fuel pricing: Ravi Shankar Prasad
![Government to take a 'long-term' view on fuel pricing: Ravi Shankar Prasad]()
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May 23, 2018
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