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Know how in the tenure of 8 years of Modi government, petrol became 45% more expensive than diesel 75%?

Petrol Diesel Price Hike: Petrol diesel prices are on fire these days. In many cities of the country, petrol diesel is available at a rate of more than Rs 100 per liter. But do you know that since the Modi government came to power in 2014, petrol has become 45 percent and diesel 75 percent expensive in the last 8 years. Whereas, before the 2014 Lok Sabha elections, the Prime Minister during the election campaign while being the candidate for the post of Prime Minister of BJP. Narendra Modi had left no stone unturned to surround the then UPA government. People were assured that if their government comes, inflation will be relieved. But for the last 8 years, the people of the country have been seeing the relief of fulfilling the promise.

Petrol diesel became so expensive in 8 years
Due to the huge increase in the prices of both the petroleum products, the common people are facing inflation every day. Despite the criticism of the opposition and the anger among the common man due to this increase, the prices of petrol and diesel are being increased every day by the state-owned oil companies. When the Modi government came to power in 2014, the price of crude oil in the international market was at $110 a barrel. Then petrol was available at Rs 72 per liter and diesel at Rs 55.48 per liter. The difference between the prices of petrol and diesel was more than Rs 16. But now petrol is available in the capital Delhi at Rs 105.41 per liter and diesel at Rs 96.67 per liter. According to these figures, it is clear that in the last 8 years, petrol has become 45 percent costlier and diesel 75 percent more expensive.

In 2010, the price of petrol was handed over to the market.
The question arises that why did the Modi government go back on its own promise of giving the benefit of cheap oil to the common people. In June 2010, the Congress-led UPA government had decided to deregulate petrol prices, that is, to hand it over to the market. Since then, government oil companies used to fix the prices of petrol. But the government’s control over diesel prices continued. Diesel was being sold at a price below the market price. Due to which the oil companies were suffering.

No benefit after deregulation
But in October 2014, the Modi government decided to deregulate diesel prices as well. The right to fix diesel prices was also handed over to the state-owned oil companies. Then while announcing this decision, the then Finance Minister Arun Jaitley had said that like petrol, the prices of diesel have also become market based. If the price of crude oil increases in the international market, then the consumer will have to pay a higher price and if the price falls, the consumer will get the benefit of cheap oil. But the big question arises whether the consumer got the benefit whenever the price of crude oil decreased in the international market. The answer is no.

Cheap crude oil, but does not benefit the consumer
When crude oil prices fell in the international market, between November 2014 and January 2016, the Modi government increased the excise duty on petrol and diesel nine times. Excise duty was increased by Rs 11.77 on petrol and Rs 13.47 per liter on diesel. At the same time, due to the decrease in demand during the Kovid period, the prices of crude oil fell, so from March 2020 till now, the central government increased the tax on petrol by Rs 13 and diesel by Rs 16 in the name of excise duty and infrastructure cess. Before 4 November 2021, the Modi government was charging Rs 32.90 per liter excise duty on petrol and Rs 31.80 per liter on diesel. But in view of the elections in five states, the government reduced the excise duty on petrol by Rs 5 and on diesel by Rs 10. From January 2022, when crude oil prices increased due to the Russia-Ukraine war, crude oil reached above $130 per barrel. After which the government oil companies have increased the prices of petrol and diesel by Rs 10 per liter. That is, the government took back the relief given on Diwali, but the government did not reduce the excise duty on petrol and diesel.

Government’s income increased from petrol diesel
When the Modi government came to power in 2014, it collected Rs 99,068 crore excise duty on petroleum products. Rs 1,78,477 crore in 2015-16, Rs 2.42,691 crore in 2016-17, Rs 2.29,716 lakh crore in 2017-18, Rs 2,14,369 in 2018-19, Rs 2,23,057 lakh crore in 2019-20 and Rs. Excise duty collected at Rs 3.72 lakh crore in 2020-21.

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