Three state owned companies such as Indian oil, Hindustan petroleum, Bharat petroleum were very happy after getting the deciding authority of fuel prices in India from the petroleum ministry. The three state owned oil companies again doing their job well by increasing the petrol prices and this time they increased Rs.1.82/liter.
Yes! The fifth hike within this year and second hike within the last 2 months. Here is the list that shows various petrol hike figures that had been carried out within this year itself,
- January – 2.5 Rs/ltr
- May – 5 Rs/ltr
- July ~ 0.33 paisa/ltr
- September – 3.14 Rs/ltr
- November – 1.8 Rs/ltr
When asked about this fuel hike issue to oil companies they claimed that they were losing Rs.1.50 and after revising the tax rates they increased Rs.1.82/lit in petrol price.
So, the new petrol prices in major cities are
- Delhi – Rs.68.64
- Chennai – Rs.72.73
- Mumbai – Rs.73.81
- Bangalore – Rs.75.64
- Kolkata – Rs.73.15
When reporters addressed Oil secretary G.C.Chaturvedi told “It is for them (oil companies) to decide. They will take a decision at a right time”.
The decision to increase petrol prices has gone onto draw intense ire from the general public which is at the receiving end of all these consecutive hikes. Even political parties are piling up pressure on the government to consider a rollback. Whether a rollback would happen or not, aam junta should be a worried lot. According to us, probably a considerably long term solution is to get rid of the umpteen taxes on petrol. Government also has diesel and LPG in sights for a price increase.
This increase will surely boost up the sales of 100cc bikes like Splendor, Twister etc. After reading this article, most of the buyers will think of switching to a 100c bike instead going for 125cc or 150cc and most of the riders will search, read and follow the maximum fuel efficiency tips. Surely half of the riders in the nation are directly affected by this hike.
Let’s hope for the launch of any new diesel bike from any manufacturer to our Indian market.
You may be interested in reading – 10 Tips to Save Fuel
Regards,
Gautham
{ 5 comments… read them below or add one }
government has majority stack in deciding the price.I am sure this extra money is directly getting transferred in swiss bank accounts.
What is wrong with the government, till when will they fool the public. Charge tax and then give subsidy, woow.
in 2008 oil prices were most high in all over world and compared to todays’ prices
so price of petrol should be cheaper today compared to petrol prices of 3 years back.
Yes..thats a valid point….But the long term solution is not to revoke the taxes, but to reduce the use of these fuels in our country. These things are not produced here and is not going to last forever. We are facing this problem because we are overdependent on fossil fuel imports and hence our economy is vulnerable to international price. Solution is to develop alternate or substitute technology to fuel our automobiles for example, electric or solar cars, bikes etc.
Regarding the prices, they have been repeating this tale of loss of Rs 1.XX/each litre of petrol sold,since time immemorial.Had it been the case, how many litres of fuel had been sold till date ? what should be their net loss. How could these companies possibly survived ?
We need some stabilization in terms of prices