Common man continues to be in with another petrol price hike

It is true that the dream of a common man, to own a vehicle, has become easier with so many options and convenient loan schemes. But what has become difficult now is to maintain the vehicle once you own it. Any vehicle needs fuel, to run and fulfill a common’s man dream, which unfortunately is becoming uneconomical for everyone. Yet again the Indian government has sanctioned a price hike for petrol which is effective since 16th June. This price hike is for Rs.2/ litre of petrol.

Petroleum products like Petrol, diesel etc have always been an expensive commodity in India. Very few of the required volume is produced in India while a large volume is needed to be imported. The value of Indian rupee is continuously falling, which means Indian importers need to shed a lot of money to bring in the precious oil.

As a result the companies keep on submitting new quotations to the government, regarding a re-evaluation in prices. With much of the requirement being fulfilled by the private sector, the government has to accept the proposal.

Common man continues to be in with another petrol price hike

As a result, we have had some serious price hikes in the past few months. The last price hike was seen of Rs 1.5, which became effective since the 1st of June. Now just after 15 days, the petrol prices are up by another 2 Rs. The government is trying to cover it up by saying that, they are helping the oil companies who are suffering huge loses by selling at subsidized rates.

The cost of petrol in some major cities of India is as follows after the price hike:

  • Delhi with a hike of Rs 2.40 is 66.39 Rs
  • Mumbai with a hike of Rs 2.52 is 74.6 Rs
  • Kolkata with a hike of Rs 2.50 is 73.79 Rs
  • Chennai with a hike of Rs 2.54 is 69.39 Rs

The diesel prices as if now are still the same. The last price hike in diesel, on the 1st of June, made it costlier by 0.45 Rs per liter .

With such price hikes the oil companies might survive, but the common man will surely give up on his dream of owning a vehicle once again.

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