AIMTC said there is still room to reduce petrol, diesel prices by up to Rs 40 per litre.
Transporters' body AIMTC on Friday termed the recent 14-16 paise per litre cut in petrol and diesel prices across major cities as "ostentatious" and said there is still room to reduce their prices by up to Rs 40 per litre.
The All India Motor Transport Congress (AIMTC) said in a statement that it is an open truth that this small cut in the price of petrol and diesel was done in view of the assembly elections in four states West Bengal, Tamil Nadu, Kerala and Assam. AIMTC represents over 95 lakh truckers and units.
All India Motor Transport Congress Chairman (Core Committee) Bal Milkit Singh said, "We welcome reduction in the price of petrol and diesel by about 14-16 paise per litre in all major cities. This is due to the fall in Brent crude oil prices which fell to USD 62 per barrel in April, from USD 70 a barrel in March."
At present, petrol is being sold in the national capital at Rs 90.40 and diesel at Rs 80.73. The price of the two auto fuels had fallen by 16 paisa and 14 paisa per litre respectively on Thursday after a 15-day break when OMCs kept its prices static.
Premium petrol, however, continues to remain over Rs 100 a litre in Mumbai and several other cities across the country.
He said that the possibility of a reduction in the price of both fuels by Rs 40 per litre still remains. He further said that cutting the price of petrol and diesel by Rs 40 per litre is the need of the hour and the people of the country also want relief amid the second wave of coronavirus pandemic.
AIMTC also said that when international crude oil was at USD 105 per barrel in May 2014, the price of petrol was Rs 71.41 and diesel Rs 56.71. "In December 2020, when crude oil was at USD 47.58 a barrel, petrol in India increased to Rs 90.34 and diesel Rs 80.51," he said.
Singh said in his statement that the current crude prices is of July 2009 level when crude oil was around USD 64.82 per barrel and the petrol prices in the country was Rs 40.62 and diesel price was Rs 30.86.
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