An Intense Protest Should Emerge Against the Hike in Fuel Prices

In continuation to the Rs. 1.06 hike in petrol prices and Rs. 2.94 in diesel prices, the price of LPG has also been increased. The price of domestic cylinders has been increased by Rs. 18 and the hike is Rs. 20 for commercial cylinders.

Petrol prices were deregulated during the previous UPA government. The subsequent NDA government led by the BJP deregulated the price of diesel as well. At that time, there was a campaign that this would enable the consumers to get the benefit of lower prices in the international market. However, the oil companies have not been inclined to reduce prices in accordance to the prices prevalent in the international market. The central government while keen to protect its corporate interests has not taken adequate measures against this.

In June 2008 while a barrel of petrol cost $ 146 in the international market, the price of a liter of petrol was Rs. 50.56 in India. However, today when a barrel of petrol costs $ 40.8 in the international market, the price of a liter of petrol is Rs. 68 in India. The current price hike is a continuation of this ongoing plunder. A strong protest should be built against this throughout the state.