Reduce diesel price, says CPI-M

The CPI-M Monday criticized the government and the Oil Marketing Companies (OMCs) for not reducing the price of diesel despite a fall in crude oil prices globally.

IANS| Last Updated: Oct 06, 2014, 15:00 PM IST

New Delhi: The CPI-M Monday criticized the government and the Oil Marketing Companies (OMCs) for not reducing the price of diesel despite a fall in crude oil prices globally.

The price of Brent crude, the global oil price benchmark, had fallen below $92 a barrel, the Communist Party of India-Marxist said. 

"It is reported that the OMCs are earning Rs.1.90 on every litre of diesel as `over recovery'," it said in a statement.

"While the government had directed OMCs to increase 50 paise per litre every month from January 2013, no reduction has been done in diesel price despite the fall in crude oil prices. 

"Through this inaction, government is burdening the people in general and especially the farmers, small scale industries and the goods transport sector.

"The CPI-M demands that the price of diesel be immediately reduced considering the big fall in crude oil prices."