When will petrol and diesel prices drop? Oil minister Pradhan weighs in

Union petroleum minister Dharmendra Pradhan said on Tuesday prices of petrol and diesel have gone up after fluctuation in the international markets and will eventually come down. “Due to an increase in prices of crude oil in international markets, consumer price (for petrol and diesel) has risen. This will soften gradually. Global supply was reduced due to Covid in turn affecting production as well,” Pradhan was quoted as saying by news agency ANI.

“We are consistently requesting the GST Council to include petroleum products under its purview as it will benefit people. But it is their call to take,” the oil minister added.

Petrol and diesel prices have been increasing continuously for more than 10 days and in some states, the price of petrol has even crossed ₹100. Petrol price has already surged past the ₹100-mark in some places in Rajasthan and Madhya Pradesh, states which levy the highest Value Added Tax (VAT) on the fuel.