Thursday, May 24, 2012
Petrol price hike adds to woes of common man
Bhubaneswar Petrol price hike adds to woes of common man
THURSDAY, 24 MAY 2012 22:43
PNS | BALANGIR
“The steep hike of petrol prices by a whopping Rs 7.50 per litre is unjustifiable on any count,” said former Sambalpur MP and president of All India University Employees’ Confederation Bhabani Shankar Hota.
“The Government is playing game with the people of this country. At 0.44 am on December 24, 2012, the Brent Crude price was US $ 105 per barrel whereas the WTI crude price was US $ 90.47 per barrel. The monthly average of exchange rate per US dollar in May (till today) was Rs 54 whereas yesterday it was Rs 56 per dollar,” Hota pointed out.
He further said, “The crude price is not US $110 per barrel as being made out by the Government. A simple arithmetical calculation would lead to the fact that due to falling rupees rate which is fluctuating (it was Rs 48 per US dollar as on February 3, 2012), the actual rise in prices of petrol should not be more than Rs 4 per litre that too assuming that the exchange rate of rupee would be constant at Rs 56 and would not go down. This was the case of a wrong decision at a wrong time which would be stoutly opposed by every section of the society except the lackeys of US imperialism.”
Balangir MP Kalikesh Narayan Singh Deo said, “The common man is already reeling under the high rise of prices of essential commodities. The hike in petrol price is going to be a huge burden on the poor and middle classes.”
After the news of hike in petrol price came in television on Wednesday, people rushed to nearby petrol pumps and there was a panic buying of petrol. “We opened and sold petrol exceeding the schedule time,” said a petrol pump owner.
Samajwadi Party district president Arun Mishra said, “It is a gift of the UPA Government to Aam Aadmi on completion of its third years. We demand rollback of the hike.”