HomeBike NewsChidambaram say Govt can lower petrol price by Rs 25

Chidambaram say Govt can lower petrol price by Rs 25

In reference to high fuel costs being borne by customers, earlier today P. Chidambaram delved on the possibility of lower petrol price through corrective action.

He explains, ‘Central government saves Rs 15 on every litre of petrol due to fall in crude oil prices. Central government puts additional tax of Rs 10 on every litre of petrol. Bonanza to central government is Rs 25 on every litre of petrol. This money rightfully belongs to the average consumer. It is possible to cut upto Rs 25 per litre, but the government will not. They will cheat the people by cutting price by Rs 1 or 2 per litre of petrol.’

Keeping in mind increasing fuel prices in recent days, a petition has been filed in court to bring Petrol, Diesel under GST, following which lower petrol price tabs could be at Rs 45 per litre for petrol and Rs 35 per litre for diesel.

Role of diesel vehicles and need for fuel efficiency regulations for heavy duty vehicles are oft discussed. SIAM has been organising its annual conference on vehicular technologies for awareness in regards to diesel vehicular technology. Discussions look to achieve solutions in addressing concerns of environment and energy security, consistent with diesel technology.

It is imperative that senior auto industry reps, policymakers from Heavy Industries, Indian oil industry, Petroleum, Road Transport and Environment need to get together to effect policy changes that can arrest continual fuel price increase alongside discussing the Indian emission roadmap. Emphasis needs to be laid on government role to set priority on creating the groundwork towards cleaner emission norms, sustainable pricing model for diesel fuel, and policy need for fleet modernization. Indian oil industry would be ready to make BS VI fuel available from 2020 onwards. The government is decisive on timelines to move to BS VI emission norms in an appropriate manner in discussion with all stakeholders. Industry discusses emission roadmap for future. India specific technology to be developed for meeting future norms for Indian oil industry.

Suitable development time is required for moving to BS V and BS VI emission norms for Indian oil industry This enables vehicle and engine manufacturers to develop tech to suit specific Indian road conditions, climate and driving patterns. owing to fuel price increase, Hyundai India has already announced a price hike of up to 2 percent across it’s product range from June 1, 2018.

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