New Delhi: Petroleum minister Hardeep Singh Puri told Parliament on Monday that the government was exploring all the possible ways and would take all the necessary measures in the coming months to ensure that consumers get relief from high fuel prices. He said a proposal to bring petroleum products under the Goods and Services Tax was taken up by the GST Council, but it “did not find favour”. He added that nine states, including Maharashtra and Kerala, had not reduced VAT on petrol and diesel.
Replying to supplementaries during Question Hour in the Rajya Sabha, the minister said that since India relies on overseas purchases to meet about 85 per cent of its oil requirements, it was one of the most vulnerable nations in Asia to higher oil prices. He said: “The government will in the coming months take whatever measures we have to, to make sure that our consumers get relief to the extent that we can.”
Mr Puri noted that oil prices had shot up from $19.56 per barrel to $130 per barrel at one stage and was currently hovering at around $109 per barrel in the midst of a “war-like situation”, in an apparent reference to the ongoing Russia-Ukraine conflict.
