Will make calibrated interventions to keep fuel prices under control: Govt
The government on Tuesday said it is keeping a close watch on evolving geopolitical developments and would make ‘calibrated interventions’ to keep fuel prices under control to safeguard the interest of the common man.
Minister of State for Finance Pankaj Chaudhary said crude petroleum and natural gas, fuel & power subgroup in the Wholesale Price Index (WPI) is directly related to the fluctuations in the prices of crude oil.
To a question in the Rajya Sabha on whether the government will cut excise duty to keep fuel price escalation due to the Ukrainian crisis in control, Chaudhary said the public sector oil marketing companies (OMCs)
