INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The government is monitoring rising crude oil prices, finance minister Nirmala Sitharaman said on Tuesday, as oil prices hit near
$100 a barrel after tensions between Russia and Ukraine escalated after Moscow ordered troops into two breakaway regions in eastern
widen its oil import bill while leading to inflationary pressures.Speaking to media persons in Mumbai, where she had earlier met industry
geopolitical factors."We are watching the development and how it can impact us," she said, adding that at this moment, "the impact (of
prices, said, "crude oil is a worrisome situations where we actually voiced that we wanted a diplomatic solution for the situation that is
We'll have to see how it goes
October last year, in bid to ease the domestic fuel prices."The prime minister had cut fuel tax before Diwali in response to calls from the
The problem is that fuel prices are high because of global supply issues," she said, further noting that "what oil marketing companies do
(with fuel prices), I cannot answer"."When we come to stage that we need to take a decision on excise duty cut on fuel prices, we will come
out publicly," the finance minister added.Government had cut excise duty on petrol and diesel prices on November 4, 2021 by Rs 5 and Rs 10
respectively, which had brought down fuel prices
