Petrol, diesel hike rollback not on, says Moily
Oil minister M Veerappa Moily on Monday ruled out a rollback in the Rs.1.50-a-litre hike in petrol and 45 paise a litre increase in diesel rates, saying only a small raise has been passed on to consumers.
“I think everybody would appreciate that we have not put a lot of burden on consumers. It is only small doses,” Moily told reporters. “Our country imports 73-75% of oil. We need to pay R7 lakh crore for the imports. Where do we find that kind of money?” he said.