New Delhi, May 14 : In the steepest hike ever, state-owned oil companies Saturday increased petrol price by about Rs 5 per litre with effect from midnight tonight.
The increase in petrol price, which the oil firms had been holding since January even though crude oil had touched a two-and-a-half-year high, came a day after election results of five state assemblies were announced.
IndianOil, Bharat Petroleum and Hindustan Petroleum will hike rates between Rs 4.99 and Rs 5.01 per litre in Delhi with effect from midnight tonight.
Petrol in Delhi currently costs Rs 58.37 per litre. The government had freed petrol price from government control in June but the state-owned oil firms had not raised prices on an 'informal' dictate from the oil ministry.
"The hike needed to make domestic rates at par with international prices was Rs 9.50-10 per litre but oil companies choose to hike rates by just half of that," an industry official said.
"Another hike in petrol price is on cards soon."
2 comments:
If the petrol pump consumer's price of petrol is made up of of 46 percent taxes, (both central & state levies) why the hell can't the central and state governments forego some taxes to ease the rate of inflation? Does it require some Scientist to tell them this? Can't we have a uniform price of petroleum poducts all over the country? Why is petrol/diesel the costliest at Bangalore compared to Delhi? Can't the state governments sacrifice some revenue to ease the common man's woes? Why do these 'modern day Maharajas -- ministers' require a convoy of so many vehicles following them everywhere? Who is paying for all this extravagance in the name of security, but you and me? There should be a cap on the amount of petrol/diesel allotted to them for their vehicles.
A 'Petro-products pricing commission' should be set up immediately to go into their pricing vis-a- vis the rate of taxes (both central and state) on them. This cross subsidy of petrol/diesel/kerosene/LPG should also be sorted out.
All this is politics, and global oil prices... Which is hardly in anyone's control...
What one can do in this situation is just re-estimate his fuel expenses.
Now find your daily-monthly and yearly fuel expenses at www.mypetrolprice.com !!!
Post a Comment