Recently, the government has introduced daily rate revision mechanism for oil prices. "Fuel prices may come down by Diwali festival," said the minister who was on a brief visit in Amritsar.
Pradhan, who has been elevated as Cabinet minister this month and given additional charge of the Ministry of Skill Development and Entrepreneurship, said prices of refinery oil went up because production of oil dropped by 13% in the US due to floods.
On being asked about margin of the oil companies, ruling out higher margins for the companies, he said they are being run by the government and everything is crystal clear.
When asked about bringing oil under the Goods and Services Tax (GST), Pradhan said that he hoped that it might be brought under the GST. It will extend enormous benefit to customers, he added.
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