‘Heads I Win and Tails you Lose’

Spokesperson: Prof. Gourav Vallabh: He said that Dynamic fuel pricing for the Modi government is ‘heads I win and tails you lose’. On May 2022, the crude oil prices were 109.5 dollar per barrel. If I translate this into litres and rupees that comes out to Rs. 53.45 per litre, Rs.53.45 per litre was the crude oil prices in May 2022.

On March 20, 2023, means, in the current year, the crude oil prices are at 70.69 dollar per barrel, if I translate this into rupees and litre that comes out to be Rs. 36.68. In other words, in 305 days, the crude oil prices had reduced by Rs. 16.75 paisa per litre. Modi Ji, why you are not giving the benefit of the reduction in the crude oil prices in the international market to the final consumers?

Point number two- Now the Government sources say- India saved just 2 dollar per barrel on the oil imported from Russia. Who all are other refiners or private refiners, who got the imported oil from Russia - We want to know.

In this regard we have four questions:

Why can’t falling crude oil prices benefit be transferred to the final consumers, when the inflation is constantly above 6 per cent limit set by the Reserve Bank of India?

Why dynamic fuel pricing works only in one direction?

Besides public sector refiners, who all have benefited from cheaper Russian crude oil, we want a list of that and at what price they had purchased the crude oil from Russia, because our public sector undertakings got a benefit of only 2 dollars per barrel from the Russian crude oil.

So, private refiners got at what price, we want to know. We want to know the name of those refiners. Wednesday, March 22, 2023