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Yechury: petrol price hike not warranted

Special Correspondent

BANGALORE:Polit Bureau member of Communist Party of India (Marxist) Sitaram Yechury has said that the conditions prevailing in the country did not warrant an increase in the petroleum prices. He told presspersons in the sidelines of a function here on Monday that it was not right to raise fuel prices every time the international crude prices went up. There were price control and cost mechanisms that could work as an alternative to international pricing index of petroleum products. The petroleum produce also attract the Ad Valorem tax which had to be calculated on a different level and that did not necessitate rise in fuel prices, he added.

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