Petroleum Traders Demand Reduction in Fuel Prices

Published: 18th November 2014 06:08 AM  |   Last Updated: 18th November 2014 06:08 AM   |  A+A-

KOCHI: The Kerala State Petroleum Traders’ Association (KSPTA) has demanded that the benefit of the steep decline in prices of petroleum products should be passed on to the common man.

Even though the price of crude oil has come down to US$80 per barrel the Central Government’s Excise duty, commercial tax and the state governments’ cess are still being levied on the petroleum products, the Association pointed out.

“The crude oil price was at the current level five years ago. But, then the average fuel price was lower by `20 compared to the present rate. “The government should take immediate steps to reduce the fuel prices, and ease the impact of the soaring commodity prices on the people,” said KSPTA secretary M M Basheer.

He said that at the current price of crude oil, petrol and diesel could be sold at `55 and `45 per litre, respectively. The Association has decided to write to the Petroleum Ministry and to the oil companies asking for a decision in favour of  the common man.

It also flayed the decision by the oil companies to allot around 2,000 new petrol pumps. A dealers’ squad has been formed under the Association to protect the interest of petroleum dealers.

At a meeting held in Kochi, the Association  also demanded that the recent increase in electricity and telephone charges, owing to the recent automation drive, should be borne by the oil companies. 

Federation of All-India Petroleum Traders national joint secretary R Sabarinath and  State office-bearers M M Basheer, A Ragish, Muhammed Niyas and Joshy Chacko also spoke.


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