‘Fuel price hike minimal, may reduce in nxt few days’

ST Correspondent
Monday, 27 May 2019

“It is a minimal hike due to international market fluctuations that keep on happening. In fact, the price of fuel is going to reduce in next three to four days as the Indian rupee has become stronger compared to dollars. The cost of crude oil is already less that 70 dollars. In fact the prices will reduce as the consumption in coming days will reduce as we are switching to CNG and electric vehicles.”

Pune: After the last phase of elections, fuel prices have increased. 

There is 60 paise increase in the price of petroleum as it increased from Rs 76.49 to Rs 77.10. 

However, All India Petrol Diesel Association’s National Spokesperson Ali Daruwala said the hike is minimal and due to international market fluctuations.

“It is a minimal hike due to international market fluctuations that keep on happening. In fact, the price of fuel is going to reduce in next three to four days as the Indian rupee has become stronger compared to dollars. The cost of crude oil is already less that 70 dollars. In fact the prices will reduce as the consumption in coming days will reduce as we are switching to CNG and electric vehicles.”

Talking about the end of US waiver on Iran, he said, “As of now there is no new import from Iran. We are getting whatever was pending. This price rise is nothing to do with the end of US waiver on Iran as we are well stocked and have started importing from other countries as well.”

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