Fuel Prices Keep Surging; FM Says She “Cannot Make Promises” About Lowering the Cost

In most states, the petrol and diesel price has crossed the 90 Rs mark while in Rajasthan and Mumbai, some areas saw it crossing 100 Rs. Finance minister Sitharaman says she is in “Dharam Sankat” about the rising price.

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Fuel Prices Keep SurgingFM Says She Cannot Make PromisesAbout Lowering the Cost the policy times

The fuel prices have been continuously rising for the past two weeks. Neither the finance minister nor the prime minister takes responsibility for the same. While the FM says she is in the divine predicament (Dharam Sankat) regarding the surge, the PM says the previous government regime is responsible for such a situation. In the midst of all these, it is only the common people that suffer all throughout.

Fuel price surging for almost two weeks now

For 13 consecutive days, the fuel prices in the country kept surging. The increase in per litre cost might not be too much but after adding up the entire increment, the petrol and diesel price stands at almost the 90 Rs mark. Diesel rates are also surging continuously that has put the small-time business persons into a jiffy. It is an astonishing fact that in some areas the fuel price has crossed the 100 Rs mark as well.

PM questions India’s ability to produce the fuel

While the nation is blaming and criticizing the government for not taking any measure to control the rise in fuel prices, the PM in return blames the past government authorities for putting India into such a position where the fuel prices cannot be controlled. Addressing an event in Tamil Nadu, Prime Minister Modi Ji said, “Can a diverse and talented nation like ours be so energy import-dependent? I do not want to criticize anyone but I want to say (that) had we focused on this subject much earlier, our middle-class would not be burdened”.

Also Read: India’s First CNG Tractor Launched; Has the Efficiency to Save up To 1 Lakh on Annual Fuel Cost

FM said both state and centre should “sit and decide” about the rising fuel price

Apart from the PM, union finance minister Nirmala Sitharaman also said that despite holding the designation she is unable to do anything about the rise in fuel prices. She also said that she is in “Dharam Sankat” regarding the same. She attended an event in Chennai after which she talked to the reporter regarding the issue. In her address, she said, “I cannot make any promises to reduce fuel prices, just by holding the position of Union FM. Fuel price rise is an issue in which no answer except for reducing the price would convince anyone”. She further added, “But there is a revenue generation happening both by the Centre and the states. There has been an equal hike in Brent prices since November. And equally, the (oil) production predicted by Opec countries is also likely to come down further, which may aggravate the stress on price. The states and the Centre will have to sit together to see if there is a way in which we can come out”. She concluded saying, “Oil marketing firms decide whether to reduce or hike prices, depending upon the cost incurred in importing crude, refining it, distribution and logistics”.

TPT Policy Advocacy and Recommendations

  • The surge in the fuel price would affect the cost of farming enormously, besides affecting other businesses. The government must take immediate action in controlling the fuel price otherwise the middle-class people will be affected a lot.
  • The current government is responsible for the ongoing condition of the country and if the prices are surging, the PM must not dig into the past issues. Instead, the government must make decisions to control the rising fuel prices by decreasing the excise duty and GST to cut down the cost maximally.
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Fuel Prices Keep Surging; FM Says She “Cannot Make Promises” About Lowering the Cost
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In most states, the petrol and diesel price has crossed the 90 Rs mark while in Rajasthan and Mumbai, some areas saw it crossing 100 Rs. Finance minister Sitharaman says she is in “Dharam Sankat” about the rising price.
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THE POLICY TIMES
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