So here we go once again. Fuel seems to have become a luxury now and the prices of petrol are skyrocketing at an alarming rate. Thus now diesel variants as well as CNG cars are hot property as most people are distancing themselves from petrol cars. Now the latest news surfacing is the upcoming UP elections. And as a result there are ample chances of fuel prices escalating by almost 3 rupees. This news has come as a distress to the people and protests have already begun to initiate in many parts of the state. Along with Uttar Pradesh, there are 3 more states which will be conducting elections soon and thus the chances of price hike are very strong.
This price hike will probably take place in March, 2012 and Indian Oil Corporation is planning to hike prices since it is sustaining a damage of Rs 3.30 per liter of petrol. Thus this upcoming price hike is said to make the fuel of the nation to stand in par with the price of fuel of global market. The next time the oil corporation as well as the officials from the government meet up, they will discuss the issue of prices and on the basis of that, they will ascertain as to whether the prices of fuels should be increased or not. Crude has now become much more expensive that what it was years back as now it takes $109 to purchase just one barrel of fuel and now the price has been increased in such a manner that the price of a single barrel is not $109 anymore but something more than that. The new price of a barrel is said to $128.
The scenario circulating around the sales of petrol cars has been quite challenging and officials are now scratching their heads in order to know whether the prices of petrol will be maintained as they are or will they change according to the government’s decision. Thus another boost in the price will now totally lose the support of the people and thus diesel as well as CNG cars will be more preferable than petrol ones. But unfortunately there is a bad news for diesel car users as well since following the Union Budget 2012, a heavy excise duty has been slapped on all the cars that run on diesel and nor petrol of CNG.
Thus now situation is such that more and more people are choosing to be on the safer side and are thus going for CNG or LPG gas cars as they believe that the rates of these fuels can never go as high as that of petrol. Very soon Maruti Suzuki is planning to unveil an all new collection of CNG and dual fuel cars which can make a car run both on diesel as well as fuel. Thus with Rs 3 hike in petrol prices, people are running berserk and plan to drop the bookings of all petrol cars.
