Union Petroleum and Natural Gas Minister Murli Deora (since shifted) on Wednesday demanded abolition of customs duty on crude and a cut in the excise duty on diesel to avoid further hikes in fuel prices that became necessary because of spiralling global rates.
“We are demanding rollback of the 5 per cent customs duty that Finance Minister Pranab Mukherjee imposed on crude oil in his last budget. The Re.1-per litre increase in excise duty on petrol and diesel, also made in the budget for 2010-11, needs to be reversed to provide succour to the oil companies as well as consumers.”
Mr. Deora was talking to journalists at the inauguration of the Oil and Gas Conservation Fortnight function organised here by the Petroleum Conservation Research Association. He spoke at the function in the morning, before being shifted as Corporate Affairs Minister in the Cabinet reshuffle.
“Crude oil price has touched $92 per barrel and there are some forecasts that it will go to $100 soon. There is definitely a case for rolling back the duties which the Finance Minister had imposed in his last budget,” Mr. Deora said.
