Amid surging prices of oil, Hardeep Singh Puri, Union Minister on Monday said that the government will take all the possible measures in the coming months to provide relief to the consumers from high fuel prices.
During the Question Hour in Rajya Sabha, the Minister of Petroleum and Natural Gas said that a proposal to list petroleum products under the Goods and Services Tax was made by the GST Council but it “did not find favour”.
India imports oil from other countries to meet about 85 per cent of its oil requirement. In such a scenario, India is one of the most vulnerable in Asia to higher oil prices. The oil prices has raised from USD 19.56 cents a barrel to USD 130 a barrel at one stage and are currently hovering around USD 109 a barrel. Puri said it is emanating from a war-like situation, apparently the ongoing geopolitical tension between Russia and Ukraine.
