The 36 state governors will meet today to decide on whether or not to increase the pump price of petrol. Energy experts, civil society organizations and marketers have expressed concerns over attempts to reverse the deregulation of the downstream petroleum sector.
This is coming as oil price in the global market, soared to $67 per barrel, a development that could further increase retail price of petrol, although it is positive for the Excess Crude Account and the 2021 budget.
Stakeholders have said liberalization of the downstream sector, including removal of subsidy, were necessary steps in reviving the downstream sector. They also maintained that taking clear decisions on how to implement minimum wage across the 36 states, providing other palliatives to cushion impacts, as well as proper use of subsidy should be critical for the governors.