Fuelling inflation

Oil companies have revised the prices of petrol and diesel once again on Monday much to the chagrin of people. Petrol became dearer by 64 paise per litre while the price of diesel came down by Rs 1.35 per litre after the revision.

Though the oil companies are adjusting the prices of petrol and diesel every fortnight based on the average cost of imported crude and Rupee-Dollar exchange rate, the regular doses of fuel price hike drew a flak from consumers. Here is what the common man has to sy about the price hike.

“The decline in diesel price by Rs 1.35 per litre is insignificant as it will not bring down our operational costs substantially. At present, the price of diesel in Vijayawada is Rs 59.50 per litre while CNG costs Rs 53 per kg. The operators of diesel autos will benefit a little if the fuel price is reduced to Rs 50. Otherwise, operation of diesel autos is not really viable and auto drivers cannot pass on the benefit of fuel price decrease to consumers in the form of reduced fares.”

L Tirupathi Reddy, an auto driver

“The increase in fuel prices will have a cascading effect on the general inflation, affecting all sections of people. The poor, middle class people and salaried sections are bearing the brunt of every petro price hike. All the promises made by BJP government have gone to vain.”

Sk Azam, a private employee

“I earmark about Rs 2,000 a month for the fuel bill of my two-wheeler. My budgetary allocation is inadequate to meet the fuel bill with the frequent increase in the price of petrol.”

Student M Sai Prasanth

“There is no significant improvement in the plight of poor and middle class people during the one-year regime of Prime Minister Narendra Modi who promised to put the economic growth of the country on fast-track. If the Central Government does not have control over the fluctuations of international crude oil prices, it can absorb the hike by reducing taxes suitably to better protect the interests of consumers and check the inflationary tendencies. But the BJP regime is not doing it because it is not really committed to the welfare of people.”

O Bharathi, an accountant

“The periodic revision of fuel prices is burdening common people. It is a known fact that the prices of petrol and diesel increase after every revision. It is a strange phenomenon in India where the prices of petroleum products are on the rise contrary to the downward trend in the international crude oil market. Two-wheeler owners are the most affected lot with the frequent hike in the price of petrol. There is no difference between the BJP-led NDA Government and the previous UPA Government headed by the Congress as both have failed to protect the interests of middle class people and salaried sections.”

Advocate Pupalla Srinivasa Rao

“The rich and people with high disposable personal income are least bothered about the frequent revision. The rise in the rate of inflation will affect the standard of living of people, especially those of the middle and lower middle class.”

Businessman K Srinu