Indore: Common man has been taken for a ride by the Central government and oil companies in the name of daily pricing of petroleum products. It has been a smart move to increase prices without the public even realizing that they have been paying higher price every time they go to a petrol pump to refuel their vehicle

In the first fortnight of July from 1 to 15, petrol prices went up by Rs 0.95 from Rs 69.44 to Rs 70.40, breaching the psychological price level of Rs 70 per litre. In the next fortnight of the month between July 16 and 31, prices shot up by Rs 1.29 from Rs 70.40 to Rs 71.69.

In the first fortnight of the current month (August 1 to 15) petrol prices registered highest jump of Rs 2.76 per litre. The prices shoot from Rs 71.81 to Rs 74.57 per litre. The spree of price rise continued in current fortnight also, where the prices of petrol further increased by Rs 1.08 per litre and changed from Rs 74.57 to Rs 75.65 (August 30 rates) per litre. If we compare the price of petrol between rates on July 1 (Rs 69.44) and on August 30 (Rs 75.65), a straight rise of Rs 6.21 can be seen during this period of just two months.

Sources close to petro traders informed that presently, crude oil is priced at around $50 per barrel in the international market. According to this rate, the actual price should be around Rs 50 per litre in the country and about Rs 55 in the state (due to highest rate of VAT). But, OMC never disclose the price calculation of oil in the Indian basket, and thus, the common men are kept unaware about the fraud.

“In fact the prices of petrol have registered a hefty rise of Rs 6.21 per liter in the two months. But this is also the fact price fixation is being done by OMCs and just we have to follow it. To give a soothing balm to consumers we are demanding to the state government to reduce VAT on petrol and diesel, which is highest in the country.”

Sanjay Dubey, Secretary Indore Petrol Dealers Association

Free Press Journal