Rahul Gandhi slams govt over rise in fuel prices

Andrew Cummings
January 24, 2021

The price of petrol in Shillong on Friday morning was Rs 89.37 per litre while the Xtra premium retailed at Rs 93.06 per litre.

In Kolkata, petrol will now be priced at Rs 87.11, and diesel at Rs 79.48 per litre while the rates were increased to Rs 88.29 for petrol, and Rs 81.14 for diesel, reported Hindustan Times.

When fuel prices had last touched record high on October 4, 2018, the government had cut excise duty on petrol and diesel by ₹1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence.

Fuel prices reached an all-time high on Saturday after rates were increased for the fourth time this week, reported PTI.

Oil Minister Dharmendra Pradhan earlier this week blamed Saudi oil output cut for the surge in oil prices but remained non-committal on tax cuts. With this, the price of petrol, as well as diesel, touched new highs.

The global benchmark, Brent crude futures, was down by 1% or 60 cents to $55.50 a barrel.

Back in mid 2020, the petrol price in the national capital crossed Rs 80 per litre mark for the first time in more than two years and has been on the rise ever since.

The soaring prices of petrol in the city are also burning a hole in commoners' pocket putting an additional burden of contemplating a budget before refueling their vehicles. "But contradiction to that, we all are controlling oil production (now)", he said at an energy conference referring to a deal between Organisation of the Petroleum Exporting Countries (OPEC) and its allies, including Russian Federation. "The petroleum and natural gas ministry recently observed that members of OPEC (Organisation of Petroleum Exporting Countries) were creating an artificial shortage by lowering production to drive up crude oil prices".

Retail fuel prices were unchanged on Sunday across the four metros.

The rates of fuel have been increased across the country varying from state to state depending on the incidence of local sales tax or VAT.

Other reports by iNewsToday