Petrol & diesel prices are problematic but can’t bring them down: Petroleum Minister

Petrol and diesel prices have skyrocketed in our country. Recently, petrol and even diesel prices were increased. Due to this, petrol, as well as diesel, passed the Rs 100 per litre mark. These are the highest fuel prices that our country has ever seen. Dharmendra Pradhan, Union petroleum minister said that he is aware of the rising fuel prices but it cannot be brought down now because the government is saving that money to spend on welfare schemes.

“I accept that current fuel prices are problematic for people but be it central/state government, over ₹35,000 crore have been being spent on vaccines in a year. In such dire times, we’re saving money to spend on welfare schemes,” Dharmendra Pradhan to ANI.

“Prime Minister Narendra Modi approved ₹1 lakh crore under Pradhan Mantri Garib Kalyan Yojana scheme to give free foodgrain to the poor for eight months. Under PM-Kisan, thousands of crores have been directly deposited in the bank accounts of our farmers. The MSP was hiked recently. And all this is happening in the current year,” He added.

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So, expect the prices to only increase from here on. Seeing Rs. 100 per litre for fuel could be the new normal for most cities if the prices are not decreased. Considering what our Union Petroleum minister has to say, it is unlikely that the prices are decreased as according to him all the revenue that is being generated is being saved for various welfare schemes.

He also commented towards Rahul Gandhi by saying that if he is so concerned about the rising fuel prices then he should ask chief ministers of Maharashtra and Rajasthan to reduce prices. In Rajasthan and Maharashtra, the ruling party is Congress. Rajasthan’s Ganganagar was the first place where the petrol prices first crossed Rs. 100 per litre mark. This happened in mid-February and on Saturday diesel also crossed the same mark. Currently, the rate of petrol in Ganganagar is the highest in the country. It is selling at Rs. 107.22 per litre whereas the diesel is selling at Rs. 100.05 per litre.

Fuels with additives and higher octane were already selling above the Rs. 100 mark but now the Unleaded petrol which is used the most has also crossed that mark. Oil companies announced a price increase of 22 paise for petrol and 32 paise for diesel on Saturday. In the past few weeks, the petrol and diesel prices are being revised daily by the oil companies. Currently, there are six states in which petrol has crossed Rs. 100 per litre. They are Ladakh, Madhya Pradesh, Andhra Pradesh, Rajashtan and Maharashtra.

India currently imports 82 percent of fuel demand from foreign countries. The taxes on petrol and diesel are already on the higher side. Due to this, the government is promoting the use of different fuel alternatives such as CNG, electric cars and biofuel. The government recently revised the FAME II subsidy that is offered by the government on the purchase of electric vehicles. This should help in attracting more people to electric vehicles and according to Nitin Gadkari, the prices of electric vehicles will be priced just like their petrol counterparts. You can read more about that by clicking here.

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