Fuel prices drop as global crude oil rate declines, Telangana Minister KT Rama Rao asks Center

Minister Telangana and the incumbent chairman of the ruling Telangana Rashtra Samithi (TRS) party KT Rama Rao on Wednesday called on the Union government to lower fuel prices as global crude oil prices fall. In a statement, Rama Rao said the Narendra Modi government’s excuse that international crude oil prices are the reason for the fuel price hike has once again been proven wrong.

“Prices of crude oil in the global market have dropped drastically, the BJP central government is not taking any action to lower fuel prices and reduce the burden on the people of the country,” he said, adding that if the price of a barrel of crude oil goes down internationally, the people of the country should benefit.

According to the minister, the price per barrel of crude oil was around $110 when the BJP government was formed at the Center in 2014. “In January 2015 it had fallen to $50, and by January 2016 it had $27. In 2020, the price of a barrel of crude oil even fell to 11 dollars due to Covid and containment. However, the Modi government never reduced fuel prices. According to statistics provided by central organizations, in the first three years of Prime Minister Modi’s coming to power, between May 2014 and September 2017, excise duty on petrol increased by 54%, while on diesel, they increased by 154%. “, added KTR.

The BJP unit in Telangana attacked the TRS for failing to lower the Value Added Tax (VAT) on fuel in the state.

Attacking the Center, Rama Rao further said that the unreasonable increase in fuel tariffs has driven up commodity prices and led to the highest inflation in the country’s history and deteriorated the living conditions of the people. poor and middle class. “Despite knowing the reality, the Modi government has not bothered to cut fuel prices. This clearly shows PM Modi’s indifference towards the poor and the middle class. Moreover, the BJP government, which is constantly raising fuel prices, is trying to blame state governments,” KTR said.

The Telangana government has not levied a single rupee in additional fuel tax since the state was formed, he said, adding that the world price of crude oil fell to $95 a barrel, but that there is no reduction in fuel prices in India.

“To provide relief to people who are going through a difficult time due to ever-increasing inflation, the Covid-induced lockdown and job losses due to the central government’s ineffective policies, the central government should immediately remove all types of sur gasoline and diesel and reduce gasoline prices,” demanded KTR.

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