The context of Modi saying what he did was a taunt from his political rivals, who stated that the Modi-led NDA regime was reaping the benefits of lower oil prices whereas the Congress-led UPA regime suffered with crude surging to $130-140 levels a barrel. Since then, times have changed. Modi doesn’t have that kind of oil luck any more Why a Windfall Oil Tax Isn't the Solution to High Fuel Prices. It is unfortunate that both the NDA and UPA governments treat PSU oil companies as their convenient ATMs. Oil bonds were issued by the UPA government when fuel prices were regulated. By doing so, the government shielded customers and domestic businesses from the vagaries of the global market for crude The UPA government had issued oil bonds worth Rs 1.4 lakh crore between 2005-06 to 2008-09, to compensate OMCs who incurred under-recoveries to the count of Rs 2.9 lakh crore owing to high international crude oil prices and the regulation of oil prices by the government, according to the Expert Committee report under Kirit Parikh. (Note: Under The second table presents the monthly average crude oil prices for Illinois Sweet Crude plus their inflation-adjusted prices from 2011-2020. Inflation-adjusted oil prices reached an all-time low in 1998 (lower than the price in 1946)! And then just ten years later in June 2008 Oil prices were at the all-time monthly high for crude oil (above The price of the Indian basket of crude oil averged at $30.53 per barrel in February 2016. The last time the price hit $30 was in January 2004. In February 2016, the prices of petrol stood at Rs 59-66.05 per litre across four metros in the country while that of diesel stood at Rs 44-52 per litre.
24 Sep 2017 Fortunately, the international crude oil price came down from 146.5 US time of NDA government as compared to that during the UPA-II time. 24 May 2018 Four years of Narendra Modi: 10 charts that show how the economy fared under the NDA regime vis-a-vis UPA rule. By Kishor Kadam, May 24, 11 Sep 2018 In reality, the international crude oil price went down under Narendra Modi government's BJP has shown a decrease of 28 percent from 2014 to 2018 during the NDA rule. For the UPA rule, the diesel prices shot up by 83 percent between 2009 to 2014. Now vs May-2014, May-14, Sep-18, % Change. Nagaraj responds to this claim, reasserting the validity of the methodology used. In her article “On UPA vs NDA; Gujarat vs Rest of India: Myth and Reality,”
8 Sep 2018 New Delhi: Retail petrol price hit Rs 80.38 a litre in Delhi on Saturday, in the national capital, at 6.9% higher compared to the price that prevailed on July 4. The transformation from UPA's “policy paralysis” to the NDA's “fastest be an impact of about $17 a barrel on the benchmark Brent crude price. 1 Jan 2015 NDA administration has retained the previous UPA government's January 2014 Figure 2: INR/USD exchange rate and price of crude oil basket (August ( representing the difference between the cost price incurred by the 22 May 2018 It is only in comparison to the dismal record of UPA 2 that the NDA May 2014: Modi Govt. begins term Global crude oil price hovered around During the past 14 years, the price of crude oil was the lowest in 2004 when the UPA came to power. Back then, crude oil was around USD 25 a barrel and petrol price in Delhi was Rs 33 per litre. In 2011, the crude oil peaked at around USD 112 per barrel and the retail price of petrol in Delhi then was Rs 65.76 per litre.
The difference between domestic and international price of oil has gone up substantially during the time of NDA government as compared to that during the UPA-II time. The petrol price went up to near Rs.80 per liter during the UPA time primarily because of the high international price of crude oil. But no one talks about the variation of actual price of crude oil and the TAX, in the UPA and the NDA govt era. The 14.2 kg and the 18.5 kg gas cylinder price. The price of crude saw ‘the highest range’ in UPA era of 2009–2014, which was from low $80 to high $120 per barrel. India Speaks is an effort to build a better online community for Indians. We take our pride in being the most friendly and user-focused community What distinguishes the NDA regime from the UPA-2 regime, vis-à-vis the oil price policy, is the thick broken line measuring the difference between the domestic petrol price and the international price of crude oil in terms of rupees per litre. As is clearly evident, this difference has been maintained at a very high level of Rs 40 per litre
The graphic (see top one) showed petrol prices as rising the least during the NDA-2 tenure—street prices rose 20.5% between NDA-1 and UPA-1, 75.8% between UPA-1 and UPA-2 and 13% between UPA-2 The difference between domestic and international price of oil has gone up substantially during the time of NDA government as compared to that during the UPA-II time. The petrol price went up to near Rs.80 per liter during the UPA time primarily because of the high international price of crude oil. But no one talks about the variation of actual price of crude oil and the TAX, in the UPA and the NDA govt era. The 14.2 kg and the 18.5 kg gas cylinder price. The price of crude saw ‘the highest range’ in UPA era of 2009–2014, which was from low $80 to high $120 per barrel. India Speaks is an effort to build a better online community for Indians. We take our pride in being the most friendly and user-focused community What distinguishes the NDA regime from the UPA-2 regime, vis-à-vis the oil price policy, is the thick broken line measuring the difference between the domestic petrol price and the international price of crude oil in terms of rupees per litre. As is clearly evident, this difference has been maintained at a very high level of Rs 40 per litre The NDA government had a windfall gain when the crude oil prices shot down to as low as $28 per barrel in January 2015. Average crude oil prices was $46/bbl, $47 /bbl and $56/bb in 2015-16, 2016 The context of Modi saying what he did was a taunt from his political rivals, who stated that the Modi-led NDA regime was reaping the benefits of lower oil prices whereas the Congress-led UPA regime suffered with crude surging to $130-140 levels a barrel. Since then, times have changed. Modi doesn’t have that kind of oil luck any more