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Senior Congress leader P Chidambaram today slammed the Modi government over the high petrol prices, saying it has become clueless and floundering and is living off an oil bonanza.
In Kolkata, Mumbai and Chennai too, prices climbed to new multi-year highs at Rs 76.78, Rs 81.93 and Rs 76.85 per litre respectively, the Indian Oil website said.
Pradhan said that around 175 meetings have been already held with the Chief Executive Officers of various gas companies at government-to-government and business-to-business level.
India reiterated its call for reasonable global oil pricing and invited investment in its hydrocarbons sector in line with the country's drive to attaining energy security.
Upping the ante against the Centre for the record rise in prices of petrol and diesel, the youth and student wings of the Biju Janata Dal staged peaceful demonstration at petrol pumps.
In the current fiscal year to March 2019, state refiners IOC, Mangalore Refinery and Petrochemicals, BP and HP plan to import 396,000 bps Iranian oil
He said stern action will be initiated against bunks that sell petrol to customers who do not wear helmets.
While finance secretary Hasmukh Adhia on Monday ruled out any immediate reduction in excise duty, sources told TNIE that the option is still open.
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Wednesday slammed the State Government for its failure to provide land for the proposed rail wagon manufacturing factory at Narla in
In the last 15 months, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by Rs 13.47 a litre, which helped the government boost collections, but gave no relief to consumers.
The upward trend of petrol and diesel continues and touched the highest-ever in Hyderabad on Sunday.
Petrol prices in the city hit a four-year high on Sunday, costing Rs 76.48 per litre. The rate was the second highest ever recorded in Chennai.
India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates.
Indian Oil Corp plans to invest 1.43 trillion rupees in next five years as the country's top refiner seeks to raise its annual capacity to about 3.2 million barrels per day by 2030.
Ultra-clean Euro-VI grade petrol and diesel, at no additional price, will be supplied in the national capital from Sunday in a bid to combat alarming levels of air pollution.