Petrol, diesel rates: Chidambaram attacks Modi government on rising fuel prices, says regime is floundering

As fuel prices hit a near five-year high, former finance minister P Chidambaram, on Friday, asked the Narendra Modi-led government as to why the prices of petrol and diesel were higher than in May, 2014, when the international crude oil prices were higher than what they are now.

In a series of tweets, he said the government is clueless and that it is floundering on the issue.

"Crude oil price at US $ 74 per barrel is still lower than US $ 105 four years ago. So, why are Petrol/Diesel prices higher today than they were in May 2014? For the last four years, the BJP government has lived off an oil bonanza. Minus the oil bonanza, the BJP government is clueless and floundering," he said in his tweets

Chidambaram also said that the "BJP boasts that it is ruling 22 States. Then, why does the BJP government refuse to bring petroleum and petroleum products under GST? Even a school child knows the answer. It is because of the 'Tax the Consumer' policy of the BJP government."

In Delhi, petrol prices touched a fresh high of Rs 74.08 per litre on Friday, the highest in nearly five years, according to Indian Oil data. In September 2013 the price had touched Rs 74.10 a litre.

In Kolkata, Mumbai and Chennai too, prices climbed to new multi-year highs at Rs 76.78, Rs 81.93 and Rs 76.85 per litre respectively. Previous highs in these cities were Rs 78.03 (Kolkata in August 2014), Rs 82.07 (Mumbai in March 2014) and Rs 76.93 (Chennai in July 2014).

Meanwhile, diesel prices too hit record highs on Friday. Diesel prices in Delhi, Kolkata, Mumbai and Chennai were Rs 65.31, Rs 68.01, Rs 69.54 and Rs 68.90 per litre respectively.

Prices of transport fuels are changed on a daily basis, unlike the previous norm of a fortnightly revision of prices. Petrol and diesel rates rose on Friday as crude oil prices, on Thursday, hit their highest levels since November 2014.

With inputs from IANS

Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.

Updated Date: Apr 20, 2018 14:52:23 IST

Also See