The Opposition parties have blamed the Centre’s economic policies for the near-daily increase in oil prices when global crude oil prices are at an all-time low.
The Congress reminded Prime Minister Narendra Modi that he had described the erstwhile UPA government as an “economic terrorist” when it raised petrol and diesel prices when crude oil was priced at $120 a barrel.
“Since 26 May 2014, crude oil prices have come down by more than by 52 per cent. On 26 May 2014, crude oil was prevailing at $108.05 a barrel. On September 11, crude oil prices came down to $52.73 a barrel. The price of diesel in Mumbai was ₹55.49 per litre in May 2014 and the price of diesel in Mumbai today is ₹62.37 per litre. Similarly, the price of petrol again in Mumbai in May 2014 was ₹71.41 per litre. Today it is ₹79.48 per litre. At the prevailing prices of crude oil, diesel should have been at ₹28.85 per litre and petrol should have been at ₹37.13 per litre,” said Congress spokesperson and former minister Manish Tewari.
He said a similar increase was witnessed in the prices of LPG and kerosene despite a decrease in global prices.
“Don’t they qualify better for the label of ‘economic terrorists’ which they had used against us in 2008 when we increased the price of petrol and diesel?” he asked.
Criticising Petroleum Minister Dharmendra Pradhan, Tewari said he was “deliberately trying to mislead” the people. He said the Ministry would be better off in the hands of anyone but Pradhan.
‘Why pay more?’ CPI(M) General Secretary Sitaram Yechury asked why should people pay more for petroleum products when the global prices are low.
“Since 2014, the price of crude has fallen by 85 per cent, but price paid by the common Indian has increased. Why? The excise on petrol has increased by 126 per cent. This means regressive taxation and this increases inflation. In the past three years, the BJP govt has written off ₹2 lakh crore of bank loans for rich corporates. Are higher taxes on fuel being used to pay this?” he asked.