Fuel prices were hiked on Tuesday, 22 March, by 80 paise per litre and LPG by Rs 50 per cylinder, news agency PTI reported. This marks the first increase in fuel and cooking gas prices in four-and-a-half months.
The price of petrol in New Delhi was increased to Rs 96.21 per litre from Rs 95.41. Diesel on the other hand will cost Rs 87.47 per litre, up from Rs 86.67.
Similarly, non-subsidised LPG will now cost Rs 949.50 for a 14.2 kg cylinder.
The last time the price of LPG was changed was in October 2021, whereas fuel prices were untouched since 4 November last year, when the Centre had cut petrol prices by Rs 5 per litre and diesel by Rs 10 per litre. Before the reduction, the price of petrol had reached an all-time high of Rs 110.04 per litre and diesel costed Rs 98.42.
Impact of Russia-Ukraine Conflict on Global Oil Prices
LPG prices were hiked by around Rs 100 per litre between July and October last year, before the government halted the hike in rates owing to public pressure.
The hike in prices comes after global oil prices started soaring this year due to the Russia-Ukraine conflict. While the price of brent crude was $118.59 a barrel on Tuesday, the price had reached a high of $140 earlier in March, PTI reported.
Also, since India meets 85 percent of its oil needs through imports, it is highly dependent on the international oil network, and immensely susceptible to changes in global oil prices.
Opposition Slams Price Hike
Several leaders from Opposition parties criticised the BJP government for hiking fuel and LPG prices in the country.
Congress leader Rahul Gandhi slammed the government through a tweet in Hindi, saying, "The 'Lockdown' imposed on the prices of gas, diesel, and petrol has been lifted. Now the government will continuously 'develop' the prices. Ask the Prime Minister about the inflation epidemic, he will say #ThaliBajao."
Leader of the Opposition in Rajya Sabha, Mallikarjun Kharge, also took to Twitter to condemn the Centre's decision, saying that the only affordable things under Modi Govt are communalism and hatred.
"Everything else is expensive," he tweeted.
He also alleged in Rajya Sabha on Tuesday that by increasing fuel prices, the Narendra Modi-led government was making money worth Rs 10,000 crore by "plundering the poor".
Ruckus in Parliament Over Price Rise
Parliament faced disruptions and protests on Tuesday, as opposition MPs took up the increase in prices of fuel and LPG.
Congress leader Adhir Ranjan Chowdhury said that his party was proven right about their prediction that there will be an exorbitant rise in fuel prices post the Assembly elections.
"Modi government is not at all reluctant to loot the poor. We'll stand against this for common people both outside and inside the Lok Sabha," he said.
Congress MPs Manish Tiwari and Manickam Tagore gave Adjournment Motion notices in Lok Sabha to discuss the issue of inflation in prices of kerosene oil.
Meanwhile, Congress MP Shashi Tharoor said that the government should have slashed taxes on fuel, instead of increasing the price, to alleviate problems faced by common people in the country.
"If the government really wanted to alleviate the pain of the common man of India, they should have reduced the taxes instead of increasing the price," Tharoor said, according to news agency ANI.
Samajwadi Party MP Jaya Bachchan also condemned the government's announcement, stating that SP chief Akhilesh Yadav had repeatedly said that fuel prices would go up once the Assembly elections were over.
"This is what the government does… Akhilesh Yadav has repeatedly said in his campaign that you people should be alert, the price is going to increase after the elections. Don’t know who brought them (BJP) to power,” Bachchan said, according to ANI.
(With inputs from PTI and ANI.)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)