The price of fuel has been increasing in the country on a regular basis after the declaration of five state assembly results. Another hike in fuel prices took place in India on Tuesday. It is the seventh increase in petrol and diesel prices in eight days.
The central government is constantly stating that the war between Russia and Ukraine is the reason behind the surge in fuel prices.
People have to pay more at petrol pumps.
However, in a fresh hike, petrol and diesel prices in Delhi rose to 100.21 per litre and 91.47 per litre, respectively. In India’s financial capital, Mumbai, petrol prices touched 115.04 per litre, while the per litre cost for diesel reached 99.25 per litre.
In neighbouring cities like Thane and Navi Mumbai, petrol is being sold at the Indian Oil pumps for Rs 115.18 a litre while the diesel price was hiked to Rs 99.38.
In Chennai, one litre of petrol will now cost 105.94 and a litre of diesel will cost 96. In Kolkata, it’s 109.68 per litre for petrol and 94.62 per litre for diesel.
India depends on fuel imports.
India depends on fuel imports. 85 percent of the country’s oil demand is met by imports. The sky touching crude oil price in the international market is a big concern for India.
Prices remained constant for 137 days. During this period, elections were held in five states: Uttar Pradesh, Punjab, Uttarakhand, Goa, and Manipur. The BJP emerged victorious in four states, while the AAP bagged Punjab.
Opposition demands PM’s response
Opposition leaders are furious due to the regular price hikes in the country. The opposition criticised the government in Lok Sabha on Monday and raised the issue of the constant increase in fuel and LPG cylinder prices. They wanted a statement from PM Modi on the consistent fuel price increases.
Congress leaders have been blaming the BJP-led government for “tax-gouging” and “profiteering’ over the fuel price surge. Congress leader Randeep Singh Surjewala recently told a media briefing that the BJP-led government “has earned 26 lakh crore in eight years” by increasing excise duty on petrol and diesel.
The Congress party has launched a campaign, “Mehngai-mukt Bharat Abhiyaan.” It has also been unveiled by the Congress party as a tool against price increases of essential commodities across the country. The party is set to organise rallies and marches all over the country between March 31 and April 7.
The Russia-Ukraine war and growing sanctions have hampered oil supply all over the world. According to marketwatch.com, Brent crude, which had previously reached an all-time high, soared to an all-time high on Tuesday.
State-owned oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum regularly adjust fuel prices. Any change in petrol and diesel prices has been implemented with effect from 6 am.
How to check fuel prices?
The state-run Indian Oil Corporation (IOC) has provided an SMS facility to check or get the current fuel prices on their mobile phones. Petrol and diesel rates don’t remain the same in the entire nation. It varies from state to state because of local taxes. The fuel prices are reviewed from time to time. It depends on the global oil market and the rupee-dollar foreign exchange rates. To know the exact price of petrol and diesel, a person can get the latest fuel prices in his/her location by sending an SMS to 9224992249.