If GST applies, prices of petrol and diesel can be controlled: Indian Oil Corporation Limited (IOCL)

Indian Oil Corporation Limited (IOCL) today defended the increase in the retail price of the petrol and diesel recently but has hinted that if GST is enforced in the sector then a positive approach can solve the issue. "After we introduced every day price of the petrol and diesel, for the first one week, the prices went down leading a panic among distributors. But later it started to rise due to several international factors.

But if GST is enforced in the sector then certainly it could help to rationalise the prices," said IOCL Executive Director Corporate Communication Subodh Dakwale here. Addressing a press conference here, Mr Dakwale said the prices are fixed as per the transparent mechanism and it directly deals with the international rate. Asked about the petrol pumps in Lucknow and other places found involved in the irregularities in their nozzles and what action has been taken by the companies, he said that a vigilance probe is underway and after it submit its report then only action would be taken. "We are concerned with such irregularities and already some action had been taken. But much more was in waiting," he added.

Mr Dakwale added that all the petroleum companies are strict towards adulteration of their products and several norms have been introduced to prevent it through transparent manner. Now the petrol outlets are selling LED bulbs, tubelights and fans while around 1000 petrol pumps in UP have shifted to solar power.