Fuel prices up due to higher import cost of crude oil: Narayan Rane

'The import cost of crude oil has gone up. Hence, we (the central government) have to increase the retail prices of petrol, diesel, LPG. Certain things are not in our hands, because we import it,' the Union MSME minister said

Fuel prices up due to higher import cost of crude oil: Narayan Rane

Union Minister Narayan Rane. File Pic

Union minister Narayan Rane on Friday claimed that higher import cost of crude oil was the main reason behind the spiralling retail prices of petrol and diesel.

Replying to questions on rising fuel prices which have touched record levels this year, he told reporters in Ratnagiri district that certain things are not in the government's hands.

“The import cost of crude oil has gone up. Hence, we (the central government) have to increase the retail prices of petrol, diesel, LPG. Certain things are not in our hands, because we import it," the Union MSME minister said.

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According to estimates, India imports over 80 per cent of its oil needs and more than 50 per cent of its gas requirement.

“I will take up the issue with right persons,” Rane said when asked whether the common man will get any relief from rising fuel prices.

The minister was in Ratnagiri district of coastal Maharashtra as part of his 'Jan Ashirwad Yatra', the BJP's mass contact programme.

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