Cong demands rollback of fuel price hike

Congress today demanded an immediate rollback of the hike in fuel prices and accused the government of being hell-bent to "profiteer" from the "misery" of the common man.
Claiming that people are being charged extra Rs 19.49 per litre for petrol and Rs 15.11 per litre for diesel, the AICC also wanted the hike in excise duty effected since November last as well as the customs duty on petroleum products to be withdrawn.
The demand was made by Randeep Surjewala, in-charge of the AICC's communication department, in the wake of the government last night raising prices of petrol by Rs 3.31 per litre and that of diesel by Rs 2.71 per litre.

"Two unprecedented petrol/diesel price hikes within 15 days have dealt a body blow to the common man and farmers, who are already reeling under high inflationary pressure", he said wondering whether the "fortunate PM" is hell-bent upon heaping misfortune of repeated price hikes to "profiteer from misery of ordinary Indians".
He said that the hikes are unfathomable on all accounts- especially owing to the fact that the Government and Oil Marketing Companies will be making a windfall gain amounting to more than Rs 2,30,000 crores even as the common man is made to pay.
Noting that the government has claimed that the sudden jump in the crude prices and the drop in the value of rupee vis-a-vis dollar had forced this step, he said "But this is not true at all."

"The truth is that the price of Indian Crude Basket was Rs 6318.76 per barrel on May 26. 2014., which has today reduced now to a mere Rs 4141.94 per barrel."

"This means that there has been a drop in the crude prices by as much as 34 per cent. When the prices reduce, the benefits should accrue to the common man, but the government reduced the prices of petrol by just 7 per cent and that of diesel by only 7.8 per cent", he said.
He recalled that diesel was being sold at Rs 56.71 /ltr when the BJP assumed office last year. Similarly petrol was being sold at Rs 71.41 per litre when the BJP formed the government last year.

"If the wise BJP government had truly implemented the UPA government's formula in fixing oil prices, the prices of petrol should have been Rs 46.80 per litre now and the diesel should have been priced at Rs 37.17 per litre. But the BJP government at present is charging Rs 66.29 per litre for petrol and Rs 52.28 for diesel."
"This means that even today, the middle class families are being charged Rs 19.49 per litre extra for petrol and Rs 15.11 per litre extra for diesel," he said, adding the hapless public is now left at the mercy of the government.