Yuva Sena install posters against fuel price hike

Mumbai: Shiv Sena, though have decided not to join nationwide strike — Bharat Bandh called by main opposition Congress and left parties, its youth wing — Yuva Sena led by Aditya Thackeray has installed posters across Mumbai city against hike in fuel price. The poster features the prices of petrol, diesel and CNG along with a tagline, ‘Yehi hai acche din?’ (Are these good days?).

As the prices of petrol and diesel are on a constant rise, the poster of Yuva Sena has compared fuel prices in 2015 and 2018 through posters. The posters were installed at several petrol stations and outside Shiv Sena Bhawan in Dadar. The surge in fuel prices has affected people in Mumbai the most, with petrol retailing at Rs. 87.89 per litre and diesel at Rs 77.09 per litre, after a 12 paise and 11 paise hike, respectively.

Since the start of the year, the petrol price in Mumbai has risen by Rs 10.41 from Rs 69.97 and the diesel price has gone up by Rs 12.81 from Rs 59.70 per litre on January 1. Chief Minister Devendra Fadnavis said bringing petroleum products under Goods and Services Tax (GST) was one of the ways of reducing the prices. “The state government is working on various proposals to reduce the prices of fuel in the state,” he said without elaborating on the measures. “The best way to control fuel price is to bring it under GST. If the GST Council moves this proposal, then Maharashtra will support it,” Fadnavis added.

Petrol prices soared to fresh record high on Sunday across the four metros. According to the Indian Oil Corporation (IOC), both petrol and diesel prices have been at their all-time high in the country for around a week now, due to increase in crude oil prices and depreciation in the rupee against the dollar. According to sector experts, a weak rupee along with high excise duty have been major factors for the rise in fuel prices.

Implication wise, the rise in diesel prices is expected to flare up the inflationary pressure as the fuel is primarily used to transport the majority of goods including agriculture products. As per the country’s pricing mechanism, the domestic fuel prices are dependent upon the interest fuel prices on a 15-day average and the impact of the rupee-US dollar fluctuations.

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