Petrol, diesel price hike from midnight

anant1a

Petrol, diesel price hike from midnight

NEW DELHI: The government has decided to hike petrol and diesel prices from Thursday midnight in order to counter the losses that are being faced by public sector oil companies.

According to an official the government has decided to increase Rs 2 for petrol and Rs 1 for diesel from today midnight.

The decision would benefit public sector oil companies which were running on losses, he added.

The government also decided to increase oil bonds, issued to offset losses of oil firms due to sale of fuel below the cost price, to 56-57 per cent of the total under-recoveries from 42.7 per cent now.

GIRISH NATHANI

i will simply affect the comman man
there should be protests to such hikes

kushaloswal

we shd jus stop buyin cars, n rather protest publically on a nation-wide basis opposin d fuel hike......
in this process d rich is only gettin richer n d poor poorer,,,,,, n d middle class man is jus left nowhere!
pune being the most expensive city for fuel!
this is jus not acceptable!

adongre

What losses we are talking about here........IOC one of the navratna PSU pay to their employees a very handsome package as compared to other PSUs. This is definately not to say that PSUs should not pay good salary but "jitani chadar hai pair utane hi pasarane chahiye".

gangulyrajesh

there was no other go for the governmnet than to increase the prize, however the raise could have been more milder.....

adongre

I am not sure if other members have received an email that was circulated few days ago (I am also not sure about the correctness of that mail) which was about not purchasing petrol on one day in January 2008. It stated that all this subsidy business is faltu. India has the highest prices of petrol in whole of Asia.

A.J.

Quote:

Originally Posted by adongre

I am not sure if other members have received an email that was circulated few days ago (I am also not sure about the correctness of that mail) which was about not purchasing petrol on one day in January 2008. It stated that all this subsidy business is faltu. India has the highest prices of petrol in whole of Asia.

It's another variation of a really old and corny urban legend:
http://www.snopes.com/politics/gasoline/nogas.asp

Though the reality is that while fuel prices might be higher in India as compared to some other countries, fuel is still being subsidised by the Government. If the fuel prices are not increased, expect some form of indirect tax to make up the deficit in the Government's budget. Either way, you pay up.

Though what does get my goat is that we in Bombay have to pay Rs. 5/litre more than our countrymen in Delhi, who also get wayyyy better roads than us. And to think we pay the highest taxes in the country....

sneha_jain3

i think we need to quickly find an alternative for petrol.. if the government continues to hike prices petrol will soon become a luxury..

hunkashis

distressssing !!!
This was expected however there are other issuess..........
what the govt doesn't need now is unwanted publicityyyy

27maddy

I think the gov has become mad