The fuel prices are skyrocketing every alternate day since last month as state-run oil marketing companies (OMCs) increased the frequency of hikes due to firming international crude oil rates.
With over 35 hikes since the first week of May, petrol and diesel rates across the country already increased by Rs 7-8 per litre during the period. In Mumbai, a litre of petrol is priced at Rs 105 whereas in Delhi it had the bar touched Rs 95 per litre.
While the original idea was to gradually stop hiking rates in June, consolidation in global crude oil prices seems to have spoilt plans. Petrol and diesel prices are expected to go up this month as international crude oil prices jumped to a three-year high after the Organisation of Petroleum Exporting Countries and their allies, collectively known as OPEC+ failed to reach a crucial deal on output levels for the third time.
Keeping in view the critical condition of the country, Oil Minister Dharmendra Pradhan a few days back had requested OPEC to make oil prices “little sober”.
Amid this hike, exasperate netizens are sharing a video, where the enraged public is seen ransacking a petrol pump as the prices of petrol and diesel are rising steadily. Several Facebook users posted the two-minute-eight-second-long clip where some men are seen vandalizing a petrol pump. The Hindi caption along with the post translates to, “Look at the public outrage. People are angry over rising petrol and diesel prices, and are vandalising a petrol pump. Modi government has failed.”
Another Facebook user Rajat Soni posted the viral video on June 25 with a caption in Hindi, which translates to “This silence will not let you live. If you want to live with respect, then raise your voice. See this public outrage. The public is furious; now they are creating ruckus at the petrol pump against the rising prices of petrol and diesel. Against inflation, protest is necessary across India. Register your protest without damaging the property of the country.” The post garnered 8K shares and 32 comments.
On doing a reverse search on the video, it was found that the viral video has no connection with the current hike in the prices of petrol and diesel whatsoever. The incident took place in Puri, Odisha, in 2018, where people vandalised a local petrol pump after allegations of petrol pilferage.
The same incident was reported by “Odisha Tv” and “Odisha Bytes” on September 29, 2018.
According to these reports, tension sparked off near Medical Chhak, Puri, on the evening of September 28, 2018, when a customer complained about less dispensation of petrol by the pump staff. This was followed by an altercation and then an attack on the petrol pump by locals. Police had to resort to lathicharge to control the crowd.
At the moment, OPEC+ nations are trying to determine an oil output policy to ease oil production as global demand continues to rise after the pandemic. However, the nations have failed to reach a consensus, resulting in benchmark Brent Crude Oil breaching $77 per barrel for the first time since late 2018.
While OPEC+ members Saudi Arabia and Russia are in favour of increasing oil production by 4,00,000 barrels a day from August till the end of the year, UAE has not yet agreed to the proposal.
If international crude oil prices keep rising, there are two options to deal with the fuel price crisis. The government could either cut high taxes on fuel or include petroleum products under GST. But as the situation stands, there is no clear plan to consider any of the two measures.
Experts have already warned that high fuel prices could delay economic recovery by lowering demand and weakening consumer sentiments. It has already led to a sharp rise in inflation, evident by the price rise seen across several products and services.
