Petrol and diesel prices have skyrocketed. Petrol has crossed Rs 92 in Mumbai and 86 in Delhi. The price of diesel in Delhi is Rs 76 and in Mumbai, it has crossed 83. Petroleum Minister Dharmendra Pradhan says that Saudi Arabia is responsible for this.
Fuel prices have also been increased in Chennai and Kolkata. Petrol in Chennai is being sold at Rs 88.07 per liter and diesel at Rs 80.90 per liter. At the same time, the price of petrol in Kolkata is Rs 86.87 per liter and the price of diesel is Rs 79.23 per liter.
Pradhan said that petrol-diesel prices had risen during the Coronavirus pandemic due to lower production by other oil-producing countries, including Saudi Arabia. He said that due to low production, there was an imbalance in the demand and supply of oil. However, Pradhan did not respond to whether the government was planning to cut taxes to control oil prices.
However, earlier, justifying the huge increase in the prices of petrol and diesel, Pradhan had said that the Modi government is not filling the treasury with tax, giving food and money to the poor. He also cited the impact on the economy caused by the Coronavirus and the need for resources to fight the epidemic.
It is worth noting that before this, the record increase in oil prices was on 4 October 2018. The government then reduced excise duty on petrol and diesel by 1.50. The states also decreased by 1 rupee. However, it was later redone as before. This time it is yet to be seen that the government is going to take any step like tax deduction.
The oil companies started revising the prices from January 6 after a gap of about 1 month. Since then, petrol prices have increased by Rs 2.34 and diesel by Rs 2.36. This increase is affecting the pocket of the common man.