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Fuel Prices Hiked Again, Congress Launches Nationwide Protest: 10 Points
31 Mar 2022, 11:33 AM IST 
In total, fuel prices have gone up by Rs 6.40 per litre after nine rate revisions.
- Fuel rates were held steady for over four months despite the spike in crude oil prices. The rate revision had ended on March 22. In total, petrol and diesel prices have gone up by Rs 6.40 per litre, respectively, after nine rate revisions.
- "We wanted to raise the issue of petrol and diesel rate hike in Rajya Sabha but the upper house Chairman didn't accept my notice. We demand that the government must issue a clarification on the fuel price hike in Parliament," KC Venugopal, Congress MP told NDTV.
- Meanwhile, the Union Cabinet had increased Dearness Allowance (DA) and Dearness Relief (DR) on Wednesday by 3 per cent to 34 per cent to compensate for the price rise, benefitting over 1.16 crore central government employees and pensioners.
- The combined impact on the exchequer on account of both DA and DR will be Rs 9,544.50 crore per annum.
- The Congress party also raised the question of EPFO rate cut -- from 8.5 per cent to 8.1 per cent -- for the financial year 2020-21.
- Digvijay Singh, Congress MP in Rajya Sabha, said, "The Centre has locked PF rate at an all-time low of 8.1 per cent but decided to raise the ceiling of investing in the share markets by 15 per cent. On one side, the Centre has reduced interest rates and on the other end, it has left the PF fund to expose in the market for speculation. This is not Centre's money ... this is the hard-earned money of labours."
- The opposition also blamed the Centre for reduction in labours' wages due to its policies and stated that inflation has raised their expense.
- Further, Congress has launched a nationwide protest on the issues of inflation and fuel price hike.
- Crude oil rates stood above the $105 per barrel mark on Thursday. Over the last four weeks, crude rates are above the $100 per barrel mark amid the Ukraine conflict and sanctions imposed on Russia.
- In the current situation of rising inflation, the chances of reduction in petrol and diesel seem unlikely for now.
