Bhubaneswar: Even as fuel price touched all-time high, politics over the issue took centre stage in the state with Union Petroleum Minister Dhramendra Pradhan blaming the US policy for the hike. However, Congress and BJD slammed the Modi government for failing to curb the price hike.
“This imbalance of world trade has had a telling impact on the oil prices in the international market. USA’s protectionist policies in the recent times have seen currencies of several nations depreciating against US dollar. The INR has also depreciated. These external factors have impacted the domestic economy of India,” Pradhan added.
He said the Centre is taking all kinds of measures to deal with the rising price of oil.
He added that the 21st century belongs to Asian countries. Within Asia, India is the preferred destination for global investments. Nobody can stop the juggernaut of India’s growth story.
“Terrorism, Naxalism, counterfeit currency and black money didn’t end as PM Modi had claimed November 8 last. Rupee is at all time low, fuel is at all time high-must benefiting you,” Pradesh Congress Committee (PCC) president Niranjan Patnaik tweeted in his reaction of Pradhan’s blame on US policy for the price hike.
However, BJD spokesperson Sasmit Patra said when the international crude oil prices per barrel was USD 110, the price of petrol and diesel in the state was comparatively less than it is now.
“Today, when the crude oil price is about USD 80-85 per barrel, why the fuel price has surged all-time high,” he asked.
Notably, the rupee Friday slumped to a fresh record low of 71 against the US dollar.
Desperate Measures
The Reserve Bank of India (RBI) selling about $7 billion in a single trading session to arrest the rupee’s slide...
Read moreDetails
