Fuel price increases 21 times in 2021, PM Modi blames previous Govt for not cutting import dependence

1 week ago 8

New Delhi: In 2021 fuel prices have increased record 21 times, and now fuel prices have touched all-time high. PM Modi, who is in helm since 2014, accused the previous government for it and blamed it for not focusing in on reducing India’s energy import dependence.

Prime Minister Narendra Modi, in his virtual address on the occasion of dedicating and laying the foundation of key projects of the oil and gas sector in Tamil Nadu today, said India imported over 85 percent of oil and 53 per cent of gas to meet the demand in 2019-20.

“Can a diverse and talented nation like ours be so energy import dependent?” PM Modi questioned. He stated

“we focused on these subjects much earlier, our middle class would not be burdened. Now, it is our collective duty to work towards clean and green sources of energy, reduce energy dependence.”

He claimed that Union Government is sensitive to the concerns of the middle class. He stated that the country has shifted its focus on ethanol to help farmers and consumers, besides usage of solar power.

The Prime Minister asserted that while India is working to meet the growing energy demand, it is also reducing our energy import dependence and diversifying import sources. For this capacity is being built.

Touching upon the ‘One Nation One Gas Grid’ vision, the Prime Minister said

“we have planned to spend seven and a half lakh crores in creating oil and gas infrastructure over five years. A strong emphasis has been laid on the expansion of city gas distribution networks by covering 407 districts.”

Meanwhile, opposition parties have hit the road and demanding immediate roll back of hike.

As per record, in a month-and-a-half of 2021, fuel prices have increased 21 times, with the two auto fuels increasing by Rs 5.83 and Rs 6.08 per litre. In nine straight days, prices have gone up by Rs 2.59 per litre for petrol and diesel by Rs 2.82 a litre. On Wednesday, oil marketing companies raised prices by 25 paise per litre for both petrol and diesel.

Oil firms have also hiked the price of cooking gas (LPG) by Rs 50 per cylinder and that of jet fuel (ATF) by 3.6%. LPG now comes for Rs 769 per 14.2 kg cylinder in the national capital.

Global oil prices (both product and crude) have maintained a record streak of gains in the past few days with crude reaching over $63.5 a barrel mark. Meanwhile, recently, Oil Minister Dharmendra Pradhan has ruled out any cut in excise duty for now and said that retail pump rates are governed by international prices as India is largely dependent on imports – at 85% – for meeting its needs.

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