Fuel prices are climbing at a record high when the economy is at a record low.
Cost of fuel has increased 23 times since 4 May, in what seems like almost every other day. While petrol rates have surged past Rs 100 in several states, diesel prices have also surpassed Rs 100 for the first time, with Sri Ganganagar, a small city in Rajasthan being the first city in the country where both petrol and diesel prices crossed the century mark.
To put it into perspective, if on 3 May, petrol in Delhi was selling at Rs 90.55 a litre while diesel was selling at Rs 80.91, as of Monday, 14 June, petrol costs Rs 95.56 per litre in the capital and diesel Rs 86.47 a litre. In Mumbai, a litre of petrol now costs Rs 101.76 and diesel Rs 93.85 per litre.
While Oil Minister Dharmendra Pradhan did agree that the price hikes are a problem, he also said that a lot of money has been spent on COVID vaccines, Pradhan Mantri Gareeb Kalyan Yojana and PM Kisan, justifying that, "In such dire times, we're saving money to spend on welfare schemes."
He also pointed fingers at the Opposition-ruled states and suggested that states like Maharashtra and Rajasthan could reduce the sales tax levied on fuel to cut down the price.
It's a well-known fact that India's high taxes on petrol and diesel push the cost of fuels but why isn't the government doing anything to curb it? We spoke to political commentator Amitabh Tiwari. Tune in!
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