The UPA Government is making the common man’s life more miserable by hiking the petrol prices. The petrol price hike will hit the common man and the poorer sections hard as it will have a cascading effect on the economy. The rise in petroleum products is outrageous and atrocious. It is more due to the government’s inefficiency and incompetence than necessity. Since prices are increased at any time of the fiscal year, the annual budget has lost its importance. The people are forced to pay hefty prices for the government’s mismanagement and failures. Raising the price of petrol is the government’s easiest method to cover up the losses or deficit due to faulty planning and mismanagement. Notwithstanding the Centre’s justification that the petrol price hike will help the oil PSUs cut their losses and avert an impending financial crisis they face, the ripple effects of price hike will badly hit the poor who are already hit by galloping inflation of food items.
The Ministry of Petroleum and Natural Gas and the oil companies are in a dangerous nexus and the government’s stand on fuel price hike due to inflation is untenable. The facts and figures of losses of oil companies are unacceptable because petrol is an essential commodity that cannot be sold for profit. With inflation reaching newer heights, commuters especially those who commute daily by their private vehicles are a harried lot. People no longer will be able to bear the brunt of this hike as a majority of them belong to middle working class group. The government, therefore, should rollback the petrol price hike and the proposed price hike of diesel, LPG and kerosene as it will result in increase in the prices of all essential commodities and public transport.
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