01:44 GMT05 August 2020
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    New Delhi (Sputnik): India’s principal opposition party Congress has been taking up the issue of petrol and diesel price hikes with. the party’s working president Sonia Gandhi writing to Prime Minister Narendra Modi on the subject last week.

    Hikes in prices of petrol and diesel prices for the sixteenth consecutive day have seen consumers take to social media to vent their spleen against the Indian government.

    Retail prices of fuel are going up despite the international price of crude cooling off since January and more so after the Covid-19 pandemic. This, however, has had no impact on the retail price of petrol and diesel. Compared INR 71.30 per litre on June 6, the cost of petrol had risen to INR 79.60 per litre on June 22.

    Congress politician and former petroleum minister M. Veerappa Moily termed Modi government’s decision to increase the price of petrol and diesel despite the slump in crude prices as “sadistic”.  “The Centre is fleecing people amid Covid-19", he added.

    Exasperated social media users are up in arms against the fuel price hike as it is impacting the consumers as the economy opens up after the Covid-19 lockdown.  

    ABSOLUTELY Sadistic and disturbing is the petrol, diesel price hike....

    ​Twitter users called the hike sadistic and described Modi supporters as "masochistic". 

    But others blamed Congress ruled state governments for raising state taxes on fuel. 

    ​India imports about 80 percent of its crude oil.

    In an estimate, a reduction of one dollar in crude oil prices per barrel results in savings of $1.5 billion on India's oil import bill. The oil import bill was $112 billion during 2018-19. India paid an estimated $87.7 billion for imported crude oil between April 2019 and December 2019.

    Related:

    Higher Fuel Prices Have Dented India's Economic Growth - IMF
    Clamour for Fuel Price Cut Grows in India as Crude Oil Prices Drop
    India's Main Opposition Party Congress Slams Governing BJP Over High Fuel Prices Amid Pandemic
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    diesel, petrol, fuel, congress, Narendra Modi, India
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