Petrol and diesel prices were hiked for the seventh straight day on June 13. ( Representational)
New Delhi: The Congress on Saturday accused the BJP-led government of burdening the common man with high taxes on petrol and diesel and earning Rs 2.5 lakh crore since March 5.
Congress leader Kapil Sibal said while international crude oil prices have fallen and are at the lowest level in 15 years, yet petrol and diesel prices are skyrocketing and common people continue to suffer under the PM Modi dispensation.
He said instead of passing the benefit of lower crude prices to consumers, petrol and diesel prices were hiked for the seventh straight day on June 13.
"The government has earned as much as Rs 44,000 crore in the last six days due to hike in petrol, diesel prices. Since March 5, the government has earned as much as Rs 2.5 lakh crore by way of increasing petrol, diesel prices."
"If the government had even the slightest feelings for the common man, instead of benefitting the companies and the government, the prime minister would have helped the common man with reduced fuel prices," Mr Sibal said at an online press conference.
According to a report by Care Ratings, he said the hike effectively meant that the Central government is collecting around 270 per cent taxes on the base price of petrol and 256 per cent in case of diesel.
The former union minister said petrol was selling at Rs 71.41 in Delhi on May 1, 2014, when international crude oil prices were USD 106.85, while on June 12, 2020, the price of petrol was Rs 75.16 when the crude oil was at USD 38.
He said central excise and VAT cumulatively account for 69 per cent of tax on fuel in India which is higher than anywhere else in the world. He said the tax of fuel in the US was 19 per cent, Japan 47 per cent, the UK 62 per cent, France 63 per cent and Germany 65 per cent.