Rising prices will have adverse impact on Indian market: IOCL Chairman

Updated:6 months, 3 weeks ago IST

New Delhi, May 21 (ANI): As the prices of petrol and diesel continued to rise across India, Indian Oil Corporation Ltd. Chairman Sanjiv Singh said on Tuesday that the rising prices of petrol and diesel will have an adverse impact on the Indian market. He said, “These prices are being governed due to geo-political issues. Seeing the situation, it is difficult to predict future prices. Unfortunately, if these prices will keep on rising like this, then it will have an impact on Indian market.” When asked whether this is a welcome step in terms of GST, Sanjiv Singh said, “We will welcome this step and would hope that all our products come under GST.” Metro cities like Delhi, Mumbai, Chennai and Kolkata have seen an almost Rs 7-8 hike in both petrol and diesel prices since last December.

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