PETROL PRICES PRESSING THE PUBLIC:

Fuel prices in upward mode! Petrol prices increased! The increase in fuel prices directly attacking the lively hood of the commons! The people cannot use their private vehicles and even cannot step into public transport! A litre of petrol in Karnataka will now cost Rs 72.96, up from Rs 70.33, after oil companies effected a Rs-2 increase in petrol prices from Saturday midnight! Yes, the petrol prices are again increased by Rs. 2 as implemented from 15th June. The steep hike in prices have been announced after the rupee weakened sharply against the US dollar and the international oil prices spiked. The hike of Rs 2 per litre excludes local taxes or VAT, which varies from state to state. After the latest hike, petrol in Delhi will cost Rs 66.39 from Rs 63.99 earlier, while in Mumbai, it will sell at Rs 74.60. In Kolkata, rates went up from Rs 71.29 to Rs 73.79 per litre. In Chennai, prices were hiked by Rs 2.54 to Rs 69.39. This is the second hike in a fortnight. Oil companies had increased petrol prices by 75 paise on June 1 (excluding VAT). IOC said international petrol prices have also hardened during this period. "The combined impact of both these factors, mainly depreciation of the rupee, has warranted the increase in petrol prices by Rs 2 per litre (excluding VAT)," it said in a statement. The June 1 increase in petrol price was the first in three months. The previous hike was on March 1, which was followed by rates being cut four times on falling global oil prices. Diesel prices has been hiked on five occasions since January when the government authorised state-owned oil firms to increase prices by up to 50 paisa per litre every month till entire losses on the fuel are wiped out. Since diesel price was hiked by 50 paisa, excluding VAT, on June 1st, the next increase will happen at the month end. IOC said the devaluation of rupee has led to widening of losses on diesel and cooking fuel. Losses on diesel has widened to Rs 6.31 a litre from Rs 4.87 at the beginning of the month. Besides, oil firms are also losing Rs 27.75 per litre on kerosene and Rs 335.14 on sale of every 14.2 kg domestic cooking gas (LPG) cylinder. The company said at current rate IOC would end the fiscal with a total revenue loss of about Rs 60,000 crore while the industry (IOC plus other state-owned fuel marketing firms) would incur around Rs 112,500 crore loss. "The movement in international oil markets and INR-USD exchange rate has been put on a close watch and developing trends will be reflected in future price changes. The petrol hike destroying the common movement! The raise in prices of fuel has directly impacted on the common people of Karnataka, as the newly farmed Congress government has put its step forward in raising the bus fair all over the state including the capital city Bangalore with the reason of petrol price hike. The bus fares went up by 16 per cent in Bangalore and 10.5 per cent across the state from Saturday midnight itself. The ticket charges from stage to stage with in Bangalore has also been increased from rupees 2 at a minimum price, which has led to a wide range of protests among the public. The raise in KSRTC bus fair irrespective of its distance or rural areas is disturbing the masses.. The opposition party stepping into the road against the decission of the state! Bharatiya Janata Party (BJP) staged a protest in Bangalore and across various districts in the state condemning the hike in price of fuel and bus fare on Monday. In Bangalore, the protest was led by former deputy chief minister R Ashok and BJP national general secretary Ananth Kumar at the Mysore Bank Circle. R. Ashok, who was transport minister in the BJP government, said addressing the party members at the rally held in the city centre that, "Just a month after it came to power the Congress has shown that it is not interested in people's welfare". BJP general secretary and Bangalore South MP H.N. Ananth Kumar opined while the Congress government in the state hiked the bus fare, the Congress-led central government increased petrol price by Rs.2 per litre the same day. He also added that, “We will take up in the monsoon session of parliament the issue of frequent hike in petrol and diesel prices by the central government". Addressing a rally in Hubli, state BJP president Prahlad Joshi said that both the state and the Union governments are harassing the common people by increasing prices of all essential commodities. “If they don’t withdraw the price hike, the BJP will intensify its stir,” he warned. BJP MLAs and other leaders in Gulbarga alleged that the UPA government has failed to prevent inflation for the last nine years. Taking out a rally in Gulbarga, CPI(M) workers defined the move of price hike as anti-people. Workers in Bellary too took out a procession. However, in spite of these protests, the Transport Minister Ramalinga Reddy ruled out reversing the hike. But, what ever may be the political issues, a sudden hike in both petrol prices and bus fair is completely oppressing the common people, who are already in economic depression due to inflation and raise in the prices of necessary commodities. So, at least now, the state government must understand the economic troubles faced by the public and should take a complete control over the price raise in the state. there is also a need for the intervention of the central government in curbing inflation by promoting the liquidity of money, which is the basic cause for all these distresses.