How fuel cost has risen despite a decline in oil prices under Modi regime

The companies imposed a 19-day price freeze on petrol and diesel ahead of the Karnataka polls in May 2018 despite international fuel prices going up by nearly $5 a barrel

“A massive hike in petrol prices is a prime example of the failure of Congress-led UPA. This will put a burden of hundreds of crores (of rupees) on Gujarat,” then Gujarat Chief Minister Narendra Modi, now Prime Minister, had tweeted on May 23, 2012, attacking then Manmohan Singh government at the Centre.
 

In May 2012, the average price of the Indian crude oil basket was $101.10 a barrel, which declined 70 per cent to $30.60 in May 2020; in June, it was $40.63 a barrel, still 60 per cent cheaper than in May 2012. As of June 2, the Indian