The oil minister has given ‘two main reasons’ behind the rise in fuel prices

Union Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan said lower energy production and oil-rich countries seeking higher profits were the main reasons behind the spree.Petrol and the price of diesel in the country.

“There are two main reasons behind the rise in fuel prices. International market fuel production has declined and producing countries are producing less fuel to make more profit. This is hurting consumer countries,” the chief told ANI while inspecting the venue. Prime Minister Narendra Modi is scheduled to address a public meeting in Dhemaji, Assam on Monday.

He added, “We are consistently the Organization of the Petroleum Exporting Countries (OPEC) and OPEC plus countries that it shouldn’t be. We hope change will come. “

Petrol and diesel prices have been rising steadily for more than 10 days and in some states, petrol prices have even gone beyond Rs 100.

He justified the imposition of taxes on petrol and diesel, saying that the Center and the states were carrying out various development works in the wake of the covid-19 epidemic, for which they levied taxes, adding that these development projects created employment.

“Another reason is covid. We have to do various developmental works. That’s why the central and state governments collect taxes. Spending on development work will create more jobs. The government has increased investment and 34 per cent more capital will be spent in this budget.” Will increase. That is why we need this tax but we also need balance. I believe the finance minister and the state government can find a way, ”the minister said.

Amid a flurry of record petrol and diesel prices, Union Finance Minister Nirmala Sitharaman on Saturday said the Center and the state government should work together to bring the retail rate to a reasonable level.

Prime Minister Narendra Modi is scheduled to inaugurate the INDMX unit at Indian Oil’s Bongaigaon refinery on Monday.Oil India Madhuban, a secondary tank farm of Dibrugarh Limited and a gas shortening station at Hebeda village in Makum, Tinsukia.

“Tomorrow, the Prime Minister will dedicate a project worth Rs 3,400 crore. We have provided 60 lakh gas connections to the northeastern states under the Ujjwala project, of which 45 lakh connections have been provided to Assam. , We will be able to meet the demand for LPG from the Bangaon refinery itself, ”said Pradhan.

He added, “In the last few years, the Ministry of Petroleum has invested about Rs 95,000 crore in various projects that are nearing completion. We will make Assam and the North East self-sufficient in energy. We are also expanding its capacity. Numaligarh Refinery Limited, Oil and Natural Gas Corporation.” “We have launched BCPL to increase oil production in Assam. These measures will provide employment to the youth of the state.”

The chief also said that apart from the central government projects, Prime Minister Narendra Modi would inaugurate the Dhemaji Engineering College and lay the foundation stone of the Sulkuchi Engineering College.