Chandigarh MP Manish Tewari has raised serious questions over the recent increase in fuel prices, highlighting the substantial profits earned by oil marketing companies. In a statement, Tewari pointed out that state-owned oil firms reported a combined net profit of Rs 77,280 crore in the last financial year, which he argued undermines the justification for raising petrol and diesel prices.
Tewari's Critique of Fuel Price Hike
The Congress leader expressed concern that the continuous rise in fuel prices is burdening common citizens. He noted that despite the high profits, the government has not reduced excise duty or asked oil companies to absorb the increase. Tewari demanded a reduction in fuel prices to provide relief to the public.
Oil Companies' Profits in Focus
According to Tewari, the combined profit of Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) stood at Rs 77,280 crore in FY 2022-23. He questioned the need for a price hike when companies are already making huge profits. The MP also accused the government of prioritizing corporate interests over public welfare.
Impact on Common Citizens
The fuel price hike has led to an increase in transportation costs, which in turn has pushed up prices of essential commodities. Tewari emphasized that this inflationary pressure is hurting the common man, especially those with limited incomes. He called for immediate intervention to stabilize prices and ensure affordability.
Political Reactions
Tewari's remarks have sparked a political debate, with opposition parties joining him in criticizing the government's fuel pricing policy. They argue that the Centre should cut taxes on fuel to ease the burden on consumers. Meanwhile, the ruling party has defended the price revision, citing global crude oil price fluctuations as the primary reason.
The ongoing controversy highlights the growing public discontent over fuel prices, which have remained high despite a recent dip in international crude oil rates. Tewari's question to the government remains unanswered, as citizens continue to grapple with the rising cost of living.
