Petrol in Delhi
will be priced at Rs 73.14 per litre, Rs 77.69 per liter in Kolkata, Rs
78.16 in Mumbai and Rs 77.23 in Chennai, effective midnight Wednesday
23rd May 2012
In the steepest ever hike, petrol price was increased on Wednesday by
Rs 7.50 a litre with effect from midnight tonight. State-owned oil
firms said they will raise petrol price by Rs 6.28 per litre excluding
local sales tax or VAT. The hike translates into Rs 7.50 per litre in
Delhi.
Petrol in Delhi currently costs Rs 65.64 a litre and after the
increase it will be priced at Rs 73.14 per litre. While petrol will now
cost Rs 77.69 per liter in Kolkata, the price in Mumbai will be Rs
78.16. In Chennai the petrol price will now be Rs 77.23, effective
midnight.
Reacting to the hike, Trinamool Congress chief Mamata Banerjee said
that the petrol price hike is a burden on the common man. She feels that
a hike in petrol price hike has taken place due to lack of planning and
mismanagement. "I am worried about the country's economy," she said.
She also added that no one discussed the price hike with her.
BJP flayed the steep hike of Rs 7.5 per litre in petrol price terming
it as "unreasonable" which will make the life of the common man
"miserable".
"This whole petrol price hike is clearly unreasonable, arbitrary and
is condemned as it will put further inflationary pressure and lead to
further rise in prices. Life of the common man will become more
difficult and miserable," BJP's chief Spokesperson Ravi Shankar Prasad
said.
He said the petrol price hike "will have a cascading effect and prices are going to go out of control. It is condemnable."
He alleged the government's inept handling of the economic situation
was responsible for this. "The gross mismanagement of food and general
economy by the UPA regime has led to the decline of the Rupee," he said,
adding it has also led to the rise in prices of petroleum products.
He wondered why the government was unable to check the decline of the
Rupee as compared to other currencies of the world while smaller
countries like Thailand, Vietnam, Bangladesh and China were not
witnessing such a decline of the value of their currencies.
With rupee depreciation leading to jump in oil import bill, Petroleum
Minister S Jaipal Reddy on Tuesday had said that there was an immediate
need to raise fuel prices.
The government had decontrolled petrol price in June 2010 but rates
were last increased on November 4 last year. This despite oil price
rising by 14 per cent and 7 per cent fall in value of rupee against the
US dollar.
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