With fuel prices remaining unchanged for almost two months despite a rise in cost, oil companies have started detailing under-recoveries or losses, which are as high as Rs 17.1 per litre on petrol and Rs 20.4 on diesel.
Oil Minister Hardeep Singh Puri said fuel retailers have knocked on the doors of the government seeking ‘relief’ but hastened to add that pricing is their decision.
While refusing to comment on reports of private oil refiners making a killing on importing Russian crude oil at deep discounts and exporting refined petroleum products to the US, the minister said the finance ministry was the appropriate authority to decide on the levy of a windfall tax on high gains the oil and gas producers are making due to surge in international energy prices.
