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Launching a sharp attack against the Central government over rising fuel prices, Bharat Rashtra Samithi (BRS) leader Ravula Sridhar Reddy on Tuesday accused the Centre and oil marketing companies of systematically priming consumers for frequent revisions in petroleum prices.
Expressing deep concern over the escalating financial burden on citizens, the BRS leader pointed out that domestic fuel retail rates have experienced upward adjustments twice within just a week, signalling a worrisome economic trend. "It seems the central government and the oil companies are preparing the consumers for regular hikes in the petrol and diesel prices. Because within one week, we have seen two hikes... Though this hike looks modest, ultimately this will have an impact on inflation, transportation costs and household budgets," Reddy told ANI. Demanding immediate regulatory intervention from the petroleum ministry to safeguard the interests of middle and lower-income families, Reddy emphasised that even minor adjustments trigger a cascading effect on essential commodity supply chains. "I demand the central government to take enough measures to prevent any further hike in the prices, as it will affect the common man badly," the BRS leader added. This comes after fuel prices across the country witnessed a sharp increase today, as petrol and diesel rates were hiked by an average of 90 paise per litre today. In Delhi, petrol prices rose by 87 paise, climbing from Rs 97.77 to Rs 98.64 per litre, while diesel prices increased by 91 paise, moving from Rs 90.67 to Rs 91.58 per litre. This marks the second increase in fuel rates in less than a week. Earlier, the central government increased the prices of petrol and diesel by Rs 3 per litre each on May 15 across the country. These hikes come amid a call for fuel conservation as the world faces an energy crisis amid the West Asia conflict, which led to a blockade in the significant maritime trade route, the Strait of Hormuz. The Brent oil prices have been at a record high in the wake of the US-Israel and Iran war, which began on February 28 this year. The Brent oil price has been hovering over USD 100 per barrel as the US and Iran are attempting to mediate for a long-term ceasefire in the region. The widening of the ambit of the war engulfed the West Asian countries, which are major suppliers of fuel. However, India has maintained that there is no shortage of fuel and has adequate energy supplies. (ANI)
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