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Concerns over rising oil prices

Bijaya Laxmi by Bijaya Laxmi
February 22, 2021
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Concerns over rising oil prices
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New Delhi: Congress president Sonia Gandhi has expressed concern over the rise in oil prices. “Oil prices are at an all-time high,” he said. In some parts of the country, petrol has gone up by more than Rs 100. The rise in diesel prices has raised concerns among millions of farmers. “The government wants to take advantage of the suffering and suffering of the people,” he said. In a letter to Prime Minister Narendra Modi, he said crude oil prices were less than half that of the Congress. Petrol and diesel prices are still rising, even though prices are still moderate. Your government is collecting Rs 33 per liter of petrol and Rs 32 per liter of diesel. The amount of tax is higher than the original price of petrol. “It is nothing more than an attempt to cover up the economic woes,” Sonia wrote in the letter. In this regard, State Finance Minister Amit Mitra said it would help alleviate the burden on the people. “Before the Modi government came to power, the share of Cess in the total tax was 7%, which has now increased to 18.5%,” he said. West Bengal is the fourth state to reduce oil taxes. Earlier, the governments of Rajasthan, Assam and Meghalaya had reduced oil taxes. The Meghalaya government has given a maximum rebate of Rs 9.10 crore. Rajasthan reduced VAT by 38% to 38%. Assam withdrew the additional 5% tax levied on Assam for Kovidi. However, Union Petroleum Minister Dharmendra Pradhan has blamed two reasons for the rise in oil prices. Countries that are part of the OPEC group are facing increased oil production and a rise in petrol and diesel prices due to the impact of COVID-16. OPEC countries are keeping production low in hopes of reaping more profits. That is why oil importing countries like India are being most affected, ”he said.

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