The petroleum ministry deliberated upon issues of output cuts by Opec resulting in high volatility and increased oil prices but the cartel says no Asian premium is charged. Reiterating New Delhi’s decade-old demand, oil minister Dharmendra Pradhan raised the Asian premium issue with visiting Opec secretary general Mohammad Sanusi Barkindo in New Delhi on Tuesday. “Both of them had substantive discussions on the issue of Asian premium and responsible pricing. Petrol prices have hit a four-year high while diesel rates have touched an all-time high in the national capital. India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates.

Source: Mint April 10, 2018 13:30 UTC