Tamil Nadu CM Vijay seeks rollback of fuel price hike, says move 'unacceptable'

Tamil Nadu Chief Minister C Joseph Vijay on Friday criticised the Rs 3 per litre increase in petrol and diesel prices, calling the move “unacceptable” and urging the Centre to roll it back immediately.

The hike came after state-owned oil marketing companies revised fuel rates for the first time in four years, pushing petrol and diesel prices to their highest levels since May 2022.

In a statement quoted by PTI, Vijay accused oil companies of failing to pass on the benefits when global crude prices decline and instead choosing to “take the profits.”

“Union government oil marketing companies have increased the price of petrol and diesel by Rs 3 per litre. This is not acceptable,” he said.

The chief minister also claimed that the revision was announced only after the completion of the “five-state polls” covering four states and one Union Territory.

Fuel prices were revised amid a sharp rise in global crude oil rates, which have surged more than 50 per cent since the US-Israeli strikes on Iran on February 28 and Tehran’s subsequent retaliation that disrupted supplies through the Strait of Hormuz, a vital global oil shipping route.

Warning of the wider impact of the increase, Vijay said rising fuel prices would trigger higher transportation and production costs, affecting small businesses as well as the general public. He reiterated his demand for an immediate rollback.

(With PTI inputs)