Consumers raise eyebrows over inflating fuel prices

Source: The Hitavada      Date: 17 Jan 2018 10:11:21


Business Bureau,


Petrol and Diesel prices

Date Petrol (per litre)                    Diesel (per litre)
June 30, 2017 Rs 74.29                  Rs 59.30
July 15, 2017 Rs 74.24                   Rs 59.31
July 31, 2017 Rs 75.46                   Rs 60.01
Aug 15, 2017 Rs 78.09                   Rs 61.79
Aug 31, 2017 Rs 79.41                   Rs 61.52
Sep 15, 2017 Rs 79.97                   Rs 62.94
Sep 30, 2017 Rs 80.20                   Rs 63.01
Oct 15, 2017 Rs 75.97                   Rs 60.05
Oct 3, 2017 Rs 76.76                     Rs 60.86
Nov 15, 2017 Rs 77.31                  Rs 61.52
Nov 30, 2017 Rs 77.05                  Rs 61.65
Dec 15, 2017 Rs 77.29                  Rs 62.01
Dec 31, 2017 Rs 78.39                  Rs 63.34
Jan 15, 2018 Rs 79.66                  Rs 66.19

As the fuel prices are soaring every passing day, the consumers are raising eyebrows over the phenomenon but helplessly shelling out extra bucks. For the past few months, consumers have seen the prices going northwards - trend which is not going down well with most of them.
Interestingly, petrol prices have jumped from Rs 74.29 per litre to Rs 79.66 per litre (on January 16) in a span of last six months. Diesel has also witnessed similar hike over the period as its prices have jumped from Rs 59.30 per litre to Rs 66.19 per litre (on January 16).

Though it is a known fact that under the dynamic pricing system the retail fuel prices have been linked to the crude oil prices at the international level, consumers are seeing wondering the changes in the prices.

“I have been keeping a track of the prices for the past many days and it is surprising that the prices are going only in one direction. I have not seen prices of petrol or diesel coming down,” said one of the consumers filling petrol in his two- wheeler at an outlet in the city. Requesting not to disclose his identity, the consumer said that there is a huge disparity in the prevailing crude oil prices and current prices of petrol and diesel.

He alleged that the State and Centre governments have imposed heavy taxes on the petroleum products which is putting additional burden on the buyers.

“Fuel prices play a dominant role in the our econony and thus the policy makers should take all possible steps to control it,” he said demanding the governmnets to bring down applicable taxes and cess on petrol and diesel. Another consumers who claimed to have fair understadning about the prices told The Hitavada on Tuesday that oil marketing companies were also taking advantage of the dynamic pricing and inflating prices.

“Recently the companies have made stupendious hike in their maintenance charges. Till recent past the companies were collecting about 5 paise per litre as maintenance charge on petrol which has been increased by nearly ten times,” he said.

It is important to note that people across various sections of the society have recently raised voice against the petrol price when it had surpassed the Rs 80 per liter mark here in the city. But both the State and the Central governmnet had slashed the taxes giving some respite to the consumers. However, in a span of two months, the prices of petrol have once again nearing the Rs 80 per litre mark.

A contractor engaged in construction industry said that diesel prices are directly affecting his business. “It is burning a deep hole in my pocket as most of our machines run on diesel,” he said.