Galloping petrol price
- Hueiyen Lanpao Editorial :: May 25, 2012 -

Adding to the summer blues, the steepest ever increase of Rs 7.54 on petrol per litre with effect from midnight of May 24 has come as a real shocker to the people.

Of course, with Indian rupee continuing its free fall against the US dollar and the crude oil prices shooting up, an impending hike in petrol price was on the cards, and Petroleum Minister S Jaipal Reddy too had hinted at the need to raise fuel prices a day earlier although he refused to say when the hike would exactly take place.

So, the screaming headlines of newspapers on Wednesday announcing highest increase on petrol price in one go caught by surprise not just the common man on the street but also many political leaders within and outside of UPA Government.

Apart from Opposition parties and allies, even leaders within the Congress, which is leading the UPA Government, have stated that they did not know about the price rise and have demanded its rollback.

Expectedly, ally Mamata Banerjee has been most vocal in her protest against the hike in petrol price even to the extent of threatening to withdraw support for not taking into confidence of other UPA partners before taking decision on hiking the petrol price.

Perhaps, the UPA Government was aware of such a reaction, and that may be the reason why the announcement has come a day after the Budget session was over. In fact, while speaking at the 3rd anniversary of UPA-II on Tuesday, Prime Minister Dr Manmohan Singh had talked about the need to take 'difficult decisions'.

As we all know, prices of everything go up in inflation. But in case of petrol, it has been galloping with such quick successions that the price of petrol at Imphal in January 2001 was just Rs 57.3 per litre but one has to spend Rs 72.06 today for the same quantity after the latest hike.

Increase in the price of fuels, whether it be petrol, diesel, kerosene or LPG have always makes holes in the pockets of everyone, especially the common man on the street, who finds difficulties in managing their homes as hike in the prices of fuel would automatically result in pushing up the rates of food and transport fare further.

Admitting the fact that hike in the price of fuel was necessary in view of the shaky economy shaky, shooting up crude oil prices and sliding rupee against the dollar, one question that remains in the mind of the people is why the Government has to take unilateral decision with regard to hiking the price of petrol so steeply? Of late, it has been seen that the Government is in the habit of going ahead with important decisions without taking into confidence of other partners.

Such show of one-upmanship on the part of an elected Government does not auger well for democracy, especially when the day of reckoning is approaching fast.

So, it's good to hear that the Government is considering a partial rollback following widespread protests and huge political pressure.