After remaining unchanged for 48 days, on Friday the petrol and diesel prices per litre in India witnessed a revision after state-run oil marketing companies hiked fuel prices. The increase in fuel prices unleashed a meme fest on social media targeting the Prime Minister Narendra Modi-led Bharatiya Janata Party (BJP) government in the country.
As of Friday, the petrol and diesel prices in India were hiked by 0.17 rupees (in Indian currency) and 0.22 rupees respectively, making their per litre prices to INR 81.23 ($1.10 approx.) and INR 70.68 ($0.95 approx.) respectively in the national capital New Delhi.
The changes in the rates differ from state to state, depending on the incidence of value-added taxes (VAT) that make up for nearly two-third of the retail sale price.
For instance, after Friday's price revisions, the petrol price per litre in Mumbai (Maharashtra state) has risen to INR 87.92 ($1.20 approx.) while the diesel price stands at INR 77.11 ($1.05 approx.) per litre.
Reacting to the news, netizens not only meme-mocked the Modi government in the country, but also in a serious note which pointed out that the difference in fuel prices in India as compared to other south-Asian countries is just another attack on the pockets of salaried middle class Indians – many of whom are currently struggling with pay cuts and job losses due to the pandemic.
Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation account for a majority of petrol and diesel stations in India. These companies align the domestic rates with global benchmarks after observing changes in foreign exchange levels.