Union minister of state for finance Shiv Pratap Shukla today said that recent hikes in prices of petrol and diesel in the country are a result of global crude oil price increase and US sanctions on Iran, even as he stressed that the government was "finding a way out".
"The government has not failed in controlling the prices of petrol and diesel but it's due to steep rise in crude prices in international market and breaking of US-Iran pact, which has affected not only India but other countries as well," Shukla told reporters.
He, however, said the government was trying "to find a way out to bring down the prices".
Union Petroleum Minister Dharmendra Pradhan has also suggested bringing petrol under the GST to control prices but imposing the GST will not be possible until a general consensus is drawn by GST council, he said.
On the protest and demonstration on the fuel price issue by the Opposition, he said, "The government is putting efforts to balance and lower the price and we can't say anything on Opposition protests as it is their work."
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.