Congress spokesperson Gourav Vallabh. File picture
| Photo Credit: Moorthy R V
Attacking the government over prices of petrol and diesel, the Congress on Wednesday requested why the Narendra Modi government has not handed on the benefit of discount in worldwide crude oil prices to customers.
Addressing a press convention, Congress spokesperson Gourav Vallabh additionally requested apart from the public sector refineries, which personal refineries benefited from cheaper Russian crude oil and at what value.
Quoting knowledge offered by the Ministry of Petroleum and Natural Gas, he stated crude oil value (Indian Basket) in May 2022 was $109.5 per barrel and by March 20, 2023, it has come down to $70.69 per barrel. In Rupee phrases, he claimed the nation was getting crude oil at about ₹53.4 per litre in May 2022, which acquired lowered to about ₹36.6 per litre as on March 20, 2023.
“In the last 305 days in the international market [May 21, 2022 to date], crude oil prices [Indian Basket] reduced by ₹16.7 per litre. Even if the same benefit got transferred to consumers, without any reduction of excise duty, the price of both petrol and diesel would come down by ₹16.7 per litre,” Mr. Vallabh stated.
“In the last 305 days, crude oil prices were reduced by ₹16.7 per litre, why is the same benefit not transferred to final consumers? Why do dynamic fuel prices work only in one direction — increasing prices when crude oil prices in international market rise?” he requested.
The Congress spokesperson claimed aside from public sector refineries almost three-quarters of low-cost Russian oil is bought by personal refiners as per numerous studies. “Which all private refiners got cheaper Russian crude, and at what price?” he requested.
