It Is Possible To Cut Petrol Price Upto Rs 25 Per Litre, But The Govt Will Not, Says P Chidambaram

News World India | 0
| May 23 , 2018 , 14:23 IST

Former finance minister and Congress leader P Chidambaram on Wednesday slammed the government for the price rise in the costs of petrol and alleged that it was possible to cut upto Rs 25 per litre, but the government "will not" cut the prices.

In a series of tweets, Chidambaram claimed instead of cutting Rs 25 which was possible, the government 'cheats' people by cutting the price by Rs 1 or 2 only.

"Central government saves Rs 15 on every litre of petrol due to fall in crude oil prices. Central government puts additional tax of Rs 10 on every litre of petrol," said Chidambaram.

"Bonanza to central government is Rs 25 on every litre of petrol. This money rightfully belongs to the average consumer," he added.

"It is possible to cut upto Rs 25 per litre, but the government will not. They will cheat the people by cutting price by Rs 1 or 2 per litre of petrol," said the former finance minister.

The costs of petrol and diesel have witnessed a steep hike, which has come as a shock to consumers, especially since the prices were kept stable for 2 weeks before the Karnataka state assembly elections.

Petrol and diesel prices were hiked on May 14 after a 19-day pre-Karnataka poll hiatus, bringing petrol prices in Delhi to a 56 month peak at Rs 74.80 per litre, and diesel prices to a new all-time high at Rs 66.14 a litre.

ALSO READ: Petrol Price Hiked After 19 Day Pre-Karnataka Poll Hiatus

Union minister of state for finance Shiv Pratap Shukla on Tuesday said that the hike of prices was due to global crude oil price increase and US sanctions on Iran.

“The government has not failed in controlling the prices of petrol and diesel but it's due to steep rise in crude prices in international market and breaking of US-Iran pact, which has affected not only India but other countries as well,” Shukla told reporters, adding that the government was trying “to find a way out to bring down the prices”.