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Congress says election dates, not global prices, regulate the price of fuel

20220925 105555
20220925 105555



Congress says election dates, not global prices, regulate the price of fuel

The Congress leader said the current BJP government is creating new lows.

New Delhi:

On Sunday, Congress demanded immediate relief for middle and low income families by cutting petrol and diesel by at least 15 rupees per liter and cooking gas prices by at least 150 rupees per cylinder.

At a news conference in Delhi, Congress spokesman Gaurav Vallabh questioned why consumers bore the brunt of higher fuel prices when crude oil prices were at their lowest level in seven months and inflation was above the Reserve Bank of India’s upper range of six per cent in the last seven. months.

“Why is the convenience not being passed on to consumers while the burden of higher crude oil prices is always transferred,” he asked.

“The prices of petrol and diesel are regulated by the election dates and not by international prices,” he said, claiming that as the election date approaches, the government lowers prices or puts them in a state of freezing, and when it ends it raises prices.

“What are the excuses by the Modi government for not exempting consumers from lowering LPG prices? Does the Modi government only believe in shifting the burden to consumers?” asked the Congress leader.

He said retail inflation, GDP growth and a low rupee are some of the examples that paint a worrying picture of how the economy should be run.

“The current BJP government is creating new lows with more data points being released by its government. The middle and low income groups suffer the most because of government ruthlessness and inefficiency.

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“The persistently high retail inflation is one of the areas of greatest concern that needs immediate government intervention,” Vallabh said.

He claimed that the government was essentially the most reckless about fuel prices.

“Since it has a cascading effect in all economic activities, the government’s failure to act speaks to ignorance and misguided focus.

“Crude oil prices have been in a downward spiral constantly over the past few months and are at their lowest level in seven months. But petrol and diesel prices in our country do not seem to reflect this trend, even after the lifting of restrictions, which means that petrol and diesel prices should change according to world prices.

Citing data from the Petroleum Planning and Analysis Cell (PPAC, Government of India), he said that the Indian basket of crude oil on September 8, 2022, was $88 per barrel, which was $116 in June this year.

He said that after the elections in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur, petrol and diesel prices increased nine times in 10 days between March 22 and March 31, 2022.

(Except for the headline, this story has not been edited by the NDTV crew and is published from a syndicated feed.)

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