New Delhi: The Supreme Court today declined to entertain a Public Interest Litigation questioning the daily increase in prices of petrol and diesel.

A three-judge bench comprising Justices R.F. Nariman, Navin Sinha and Indira Banerjee warned the petitioner that if he presses to argue on the prayers in the PIL, then he could end up paying a heavy fine for filing the plea.

The Petition filed by Kerala-based advocate, Shaji J. Kodankandath, contended that price of petrol and diesel were unreasonable in the backdrop of low crude oil price. The petitioner moved the apex court seeking directions to the centre to reduce the price of petrol and diesel.

Courts refrain from exercising judicial review over the economic policy decisions, which fall within the exclusive domain of the executive. The court said: “Do you want to argue this case because if you do, we will impose heavy costs.”

Counsel appearing for the petitioner submitted before the bench, if that was the view of the court then he would withdraw the plea filed by his client.

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Notably, retail prices of fuel here do not solely depend on crude oil prices. Various factors including margin by Oil Marketing Company transportation and freight costs, central and state government taxes and other taxes etc are considered in determining the price.

-India Legal Bureau