Petrol, diesel prices are governed by election dates, not global rates: Congress
At a press conference here, Congress spokesperson Gaurav Vallabh questioned why consumers are bearing the brunt of higher fuel prices when crude oil prices are at a seven-month low and inflation has been hit by the Reserve Bank of India (RBI) in the last seven months. above the highest category of six per cent.
“When the burden of high crude oil prices is always passed on to the consumers, why are consumers not being given relief,” he questioned.
Vallabh said, “Petrol and diesel prices are not governed by global rates but by election dates.” He alleged that when elections approach, the government reduces or bans prices. , and when they run out they raise the prices.
The Congress leader questioned, “What are the excuses of the Narendra Modi-led government not to give relief to the consumers on the falling prices of LPG? Does the Modi-led government believe only in putting burden on the consumers?
He said retail inflation, gross domestic product (GDP) and depreciating rupee are some of the examples which paint a worrying picture of the management of the economy.
“The current BJP-led government is setting new lows with more data points released by its own government. The middle and low-income groups suffer the most due to the apathy and inefficiency of the government.
Vallabh said, “The persistently high retail inflation is one of the areas that needs immediate government intervention.”
He alleged that the government has been most careless about fuel prices. “Since they have a cascading effect on all economic activities, the government’s inaction shows its ignorance and distraction,” the Congress leader said.
Vallabh said, “Crude oil prices have been going down continuously for the last few months and are at a seven-month low. But petrol and diesel prices in our country do not reflect this trend even after regulated, that means petrol and diesel prices should change according to global prices.
The Congress leader, citing data from the Petroleum Planning and Analysis Cell (PPAC, Government of India), said that till September 8, 2022, the price of ‘Indian basket’ of crude oil was $88 per barrel, from $116 in June this year.
He said that after the elections in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur, the prices of petrol and diesel increased nine times in 10 days between March 22 and March 31, 2022.
