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Petrol, diesel price hike: Rs 25 per litre cut possible, but Govt cheating people, says Former Finance Minister P Chidambaram

Chidambaram said that a Rs 25 cut in the prices of the two major petroleum products was possible, however, the Government was cheating its own citizens.

Reported by: India TV News Desk, New Delhi [ Updated: May 23, 2018 12:52 IST ]
Image Source : PTI

Former Finance Minister P Chidambaram. (File Photo)

Former Finance Minister P Chidambaram on Wednesday cornered the BJP-led NDA Government over the skyrocketing prices of petrol and diesel and claimed that Centre was filling its own treasury by burning a whole in the common man's pocket. 

Chidambaram said that a Rs 25 cut in the prices of the two major petroleum products was possible, however, the Government was cheating its own citizens.

"Central government saves Rs 15 on every litre of petrol due to fall in crude oil prices. Central government puts additional tax of Rs 10 on every litre of petrol.Bonanza to central government is Rs 25 on every litre of petrol. This money rightfully belongs to the average consumer," Chidambaram said in a series of tweets.

"It is possible to cut upto Rs 25 per litre, but the government will not. They will cheat the people by cutting price by Rs 1 or 2 per litre of petrol," he added.

The spiralling prices of petrol and diesel have given the Opposition heavy ammunition to target the BJP Government, which is said to be working on 'some steps' to deal with the issue.

The matter is also likely to be taken up during the Cabinet meeting scheduled to be held today.

Also read: Petrol touches all time high of Rs 84.99 per litre in Mumbai, Rs 77.17 in Delhi

The Government may not rely only on cutting excise duty, which makes up for a fourth of the retail selling price, a senior official said. 

India Tv - India TV Graphics

Image Source : INDIA TV

India TV Graphics

"Rising fuel price is a crisis situation for government and it has to be handled with combination of steps. Finance ministry is consulting the petroleum ministry on rising crude prices," he added without elaborating. 

Watch: Fuel price hike burns a whole in common man's pocket

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