Sheer profiteering says Yashwant Sinha on fuel price hike
Patna, June 28: Former Union finance minister Yashwant Sinha on Saturday alleged that the Centre is resorting to "profiteering" by increasing fuel prices on a daily basis.
On one hand, the Centre announced a Rs 20-lakh crore package to uplift the economy, while on the other, it "robbed" people who travel by motorbikes, scooters and other vehicles, he said.
While diesel rates were hiked for the 21st straight day on Saturday, petrol prices have been increased on 20 occasions in three weeks.'
After hike in prices for 21 days, no rise in petrol, diesel prices today
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"There are occasions when the price hike in petrol and diesel (prices) becomes imperative. But I can tell you on the basis of my experience that it is nothing but sheer profiteering in today's circumstances," Sinha said at a press conference here.
"It is unfortunate and saddening to know that the government is resorting to profiteering," he said.
Sinha
said
it
is
well
known
that
"crude
oil
price
is
soft
in
the
international
market".
On
Saturday,
the
price
of
petrol
was
hiked
by
25
paise
per
litre
and
diesel
by
21
paise
per
litre,
taking
the
cumulative
increase
in
rates
in
three
weeks
to
Rs
9.12
and
Rs
11.01,
respectively.
On June 7, oil companies had restarted revising prices in line with costs after ending an 82-day hiatus during which they adjusted steep excise duty hikes by the government against the fall in benchmark international oil rates.