"Will Impact Poor, Middle Class": Vijay Slams Centre Over Fuel Price Hike

Tamil Nadu Chief Minister C Joseph Vijay today demanded an immediate rollback of the Rs 3 hike in petrol and diesel prices, calling the move "unacceptable" and urging the Centre to withdraw the increase without delay.

Vijay took on the oil companies, underscoring that they do not reduce fuel prices when crude oil prices fall in the international market but continue to make huge profits.

"When the price of crude oil in the international market falls, the oil companies do not reduce the prices of petrol and diesel accordingly. Instead, they only take the profit. This increase in the prices of petroleum products after the Assembly elections in five states is unacceptable," Vijay said in his letter to the Centre.

However, Union Minister G Kishan Reddy defended the hike, attributing it to rising import costs of crude oil amid the ongoing Middle East conflict and restrictions in the Strait of Hormuz, a key global oil shipping route.

Vijay said the hike would severely affect poor and middle-class families, particularly two-wheeler users, by increasing their monthly expenses, while cab operators repaying vehicle loans would also be badly hit.

Vijay further raised concerns over the impact on Micro, Small and Medium Enterprises (MSMEs). "MSMEs are facing a slowdown in the market and exports due to the increase in the cost of production of their products due to the increase in the price of petroleum products," he said.

(With inputs from Swarnamathi A)