Get ready for another petrol hike

09 September, 2012

Though authorities have denied the reported hike but it is likely that petrol could become dearer by another five rupees, given the increase in international crude oil prices. The indications came from none other than Union Oil Minister Jaipal Reddy himself who signaled that 'government might be forced to take some painful decisions'.

LIKE A bogeyman, petrol prices – thanks to their upward trend, have become a source of misery for common people in the country, especially after the recent steep hike.

During last 8 years since June 2004 when one petrol litre cost Rs 35.71, the prices have more than doubled and one is not sure how fast they will reach the 100-rupee mark. With the most efficient economist Dr Manmohan Singh as our Prime Minister, nation would have expected an end to its miseries, but skyrocketing inflation and rising petroleum prices under this regime has only burdened the common man.

Within one year of UPA's arrival, petrol prices increased by almost 5 rupees in June 2005, taking it to Rs 40.49. Then again in just one year, the prices jumped by another 7 rupees, making it Rs 47.51 a litre.

After 2006, the most uncertain period started and after many ups and downs in the year 2007, 2008 and 2009 petrol prices crossing 50 rupees mark, reached 55.87 rupees per litre in December 2010 and never looked back. Now in a span of just two years it has touched 73.18 rupees per litre in May 2012.

Higher class may not have been hit by this drastic increase in petrol prices but it has broken down the financial backbone of the middle and lower class people who have limited income sources. In 2008-2009 when recession was at its peak, it was very difficult to save even their jobs but ruling party was only bothered about increasing prices of petrol and making more difficult for them to even travel to look for new jobs.

"It has now become a part of our life. I think we became habitual to these things and had to compromise with the situation. I plan my travel and use less car than before and travel by metro or bus to go to my office. They also are little inconvenient but we have to do that," said Mr Yogesh Kumar who travels daily from Dwarka to Jasola.

The hike has hit hard the people who drive cars and two-wheelers to their places of work. People who used to spend almost 8500 rupees in a month on petrol to travel 80 kilometers daily have to spend 16430 rupees for the same journey.