Congress Attacks Government Over Fuel Excise Duty Hike

The Congress criticized the government for increasing excise duty on petrol and diesel, alleging it deepens public misery amid a stock market slump. Despite reduced global oil prices, the hike would not affect retail prices due to adjustments by PSU oil companies.

The Congress party has vocally condemned the government's decision to increase the excise duty on petrol and diesel. The move comes amidst a stock market downturn, leading many to believe that the increase exacerbates the public's financial difficulties.

The government announced a Rs 2 per litre hike in excise duties for both petrol and diesel. Despite the international crude oil prices dropping by 41% since May 2014, the government's decision was perceived as an economic blow to consumers.

Nevertheless, the oil ministry assured that retail prices for petrol and diesel would remain unchanged. This decision was due to adjustments made by PSU Oil Marketing Companies, which offset the excise duty increase against existing price reductions warranted by the decline in global oil prices.

(With inputs from agencies.)