Petrol & Diesel Prices Continue To Increase Reaching A 3-Year High, Will Anyone Focus On Important Issues?

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The entire nation is gripped by the Padmaavat controversy since the past few months. Everyone including the ruling party, opposition, media, and to an extent common people are more worried about a fictional movie than real price hikes. The alleged violence by the members of Karni Sena has further worsened the situation.

The petrol and diesel prices continued an upward movement across the country reaching to a three year high in many metros. Petrol was costliest in Mumbai at Rs 80.39 per litre, while both Kolkata and Chennai saw the price reach up to Rs 75.19. The price of petrol in national capital reached Rs 72.49 per litre inching towards the previous high of Rs 72.51 in 2014.

The diesel prices also continued hitting record levels as seen in the past week. At present, the prices have reached Rs 63.53, Rs 66.20, 67.65 and Rs 67.00 in Delhi, Kolkata, Mumbai and Chennai, respectively. The upward trend in diesel prices has a more significant impact on the lives of ordinary citizens as it is used in the transportation sector.

The increased cost of transportation will eventually impact the inflation and lead to increased prices of daily commodities. The increase in prices of the fuel has been a global trend due to the high demand and production curbs by the Organization of the Petroleum Exporting Countries. The current Brent crude oil price of $70 per barrel is a three-high mark.

Apart from the global factors, the permission to revise the price on a daily basis causing sudden changes in the domestic prices. Previously, a 15-days waiting period was mandatory while determining the petrol prices. Additionally, state taxes also lead to prices increase across most states.  Petrol & Diesel are not yet covered under GST which could reduce the prices of these fuels substantially.

The UBR View: When GST was launched, there were a lot of talks of bringing petrol and diesel under the GST act. However, the opposition, as well as the government, appears to be busy with more important issues. Amid the increasing political drama where the primary concern is the release of a movie or whether someone is a ‘janeu dhari Brahmin’, the problems of the ordinary citizens can always wait.

Following are some of the views of citizens on Twitter.

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