Fuel price cut call: Transporters body urge Centre to cut petrol, diesel prices as crude falls to $90 per barrel

The All India Motor & Goods Transport Association (AIMGTA) has urged the Centre to reduce petrol and diesel prices, arguing that a sharp decline in international crude oil prices should be passed on to consumers and the transport sector, reported PTI.In a representation to the government, the association said global crude oil prices have fallen from around $104 per barrel to about $90 per barrel, creating room for a reduction in domestic fuel prices.The transporters' body said elevated fuel costs continue to put pressure on transport operators and have increased logistics expenses across the supply chain.According to the association, rising fuel and transport-related costs are also contributing to inflationary pressures, affecting both businesses and consumers.AIMGTA urged the government to provide relief to the transport sector by lowering petrol and diesel prices in line with the decline in international crude oil prices.The association said such a move would help reduce operating costs for transporters, ease inflationary pressures and provide relief to consumers.The demand comes days after state-run fuel retailers raised petrol and diesel prices by about Rs 7.50 per litre from May 15. On Friday, the government said the country has sufficient stocks of petrol, diesel, LPG, crude oil and natural gas, while refineries are operating at optimum levels and LPG production is at an all-time high of around 52,000 tonnes per day. "We are working on the strategic reserves. Oil marketing companies have been asked to work out (a plan) to have LPG reserves for a minimum of 30 days with them, and they are working on it," Sujata Sharma, joint secretary in the petroleum ministry, said on Friday."No dry out reported at any LPG distributorship," Sharma said, while adding that "abnormal sale is being observed at many petrol pumps".The government has also asked Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) to prepare plans for additional LPG storage capacity.