Leader of Opposition in Lok Sabha Rahul Gandhi on Tuesday escalated his attack on Prime Minister Narendra Modi over the recent fuel price hike, warning that an economic storm is approaching. Speaking to reporters in Rae Bareli, the Congress leader stated that tough times are ahead for the country's economy and accused PM Modi of inaction while advising citizens against foreign travel.
I have been saying this for a few days now that Modi ji has changed the economic structure. An economic storm is on the way. Their Adani-Ambani structure will not last much longer; it will collapse. What is unfortunate is that the common man will suffer, Rahul said. The economic shock will not impact Adani, Ambani, and Modi; it will deeply affect the common man. It will be unprecedented. Tough times are coming. Instead of taking action, Narendra Modi is asking people not to undertake foreign trips, while he himself is on a world tour, he added.
Fuel Price Hike Details
Earlier on Tuesday, petrol and diesel prices were increased by approximately 90 paise per litre, marking the second rise in less than a week after state-run oil companies ended a nearly four-year freeze on revisions. In the national capital, petrol prices rose to Rs 98.64 per litre, while diesel prices increased to Rs 91.58 per litre. Rates vary across states due to differences in value-added tax.
Fuel prices are now at their highest levels since May 2022. On May 15, compressed natural gas (CNG) prices were also raised by Rs 2 per kg in cities including Delhi and Mumbai. On Sunday, CNG prices were again hiked by Re 1 per kg.
Global Factors and Government Response
Global crude prices have surged more than 50 percent since the US-Israeli strikes on Iran on February 28 and Tehran's retaliation, disrupting flows through the Strait of Hormuz, a key artery for global oil shipments. Despite the surge, retail fuel rates had remained frozen at two-year-old levels as part of what the government said was an effort to shield price-sensitive consumers from higher global energy costs. However, opposition parties alleged political motives behind the freeze as key states headed to polls.
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