Congress protests against hiked petrol prices

In the wake of increased petrol and diesel prices, the opposition party is raising voice against the ruling party. The Congress on Wednesday levelled up its attack on the BJP government after petrol and diesel prices were raised by 80 paisa for the second day in a row and said it would protest both inside and outside Parliament. 

“We will continue to protest both inside and outside Parliament against this unjustified price hike. The government is looting Rs 10,000 crore from this price hike,” Leader of Opposition in the Rajya Sabha Mallikarjun Kharge told reporters. 

A record 137-day hiatus in rate revision ended on Tuesday with 80 paisa per litre increase in rates. Prices had been constant since November 4 ahead of assembly elections in five states including Uttar Pradesh and Goa.

Congress MPs from both houses of Parliament protested outside the Gandhi statue in the Parliament House complex complaining the price hike in petrol, diesel and LPG gas. 

In Delhi, petrol will now cost Rs 97.01 per liter as against 96.21 earlier while diesel witnessed a jump to Rs 88.27 a litre from Rs 86.67, according to state-owned fuel retailers. While Mumbai residents can buy petrol for Rs 111.67 per litre and diesel costs Rs 95.85, an 85 paise hike from Tuesday’s Rs 95 for a litre. Bengaluru petrol prices turned to a three-digit figure which is Rs 102.26 per litre and diesel prices rose to Rs 86.58 per litre

Party MPs were also given adjournment notices yesterday in both the Lok Sabha and the Rajya Sabha to discuss the issue. Rajya Sabha session was adjourned twice yesterday because of the racket created by the opposition party members. The opposition created ruckus for the hike in petrol and diesel prices which followed the “hold on “to the session by Venkaiah Naidu. 

Party leaders, he said, were of the view that the government had held back the raise because of assembly elections and started hiking the prices as elections were over. Congress chief spokesperson Randeep Surjewala said, “‘Loot People Plan’ continues! Petrol Diesel Prices   hiked by 80 Paisa, Rs 1.60/litre in 2 days.”

“Best time to loot farmers is harvesting season. Looting Middle Class-Salaried is their divine right. Dare not protest or They’ll show u a “film” or hide it behind religion-caste,” Surjewala said on Twitter. 

Experts expect the price hike to continue in the next few days as crude oil prices have increased significantly. “Consumption demand has decreased because of the already high inflation.

The government has been cautious in increasing prices as they realise inflation can reduce demand further,” Likhita Chepa, senior research analyst at Capital via Global told Times OF India.

State-run fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum dominate fuel retailing and tend to move prices together. India is 85 per cent dependent on imports to meet its oil needs which make it the world’s third-biggest oil importer and consumer.

The country’s local petrol and diesel prices are linked to the international costs of the two fuels, which move proportionally to crude prices.

Benchmark Brent crude oil prices have risen sharply to nearly $120 per barrel on the escalation in the Russia-Ukraine conflict and have put pressure on state fuel companies to increase the retail prices. 

The price of LPG (liquefied petroleum gas) refills was also raised by Rs 50 on Tuesday, the first increase in six months. LPG prices are currently at record levels. 

Published by : Aditya Andharia 

Edited By : Kritika Kashyap