So, petrol and diesel prices have gone up, petrol by Rs 4 and diesel by Rs 2. As expected, the opposition and the left parties have started agitation. BJP has called in for a hartal in Kerala on Friday, June 9th. There are protests being planned in other states also. So what next? Obviously, as usual the government is going to fool all of us. By next week, definitely you can expect a news stating petrol prices have been brought down by 50 paise and that the increase will only be about Rs 3.50. A big win for the protestors!! This has always been the government's way of fooling us. It works out like this. Suppose they need to increase the price by say Rs 5. They will then decide to hike it by Rs. 6. They know that there will be protests against this. Then they will decide to bring it down by 50 paise or Re. 1. Target achieved and people fooled!!!
As international oil prices are going up constantly, now almost $70 a barrel, obviously there is no way but to increase the price. But on the other hand, India is the only country which imposes taxes and duties to the tune of 60% on petrol. Which means out of Rs 50 which you pay for a liter of petrol, Rs. 30 goes towards taxes and duties, and Rs. 20 is the cost of the petrol. Obviously you can't do without taxes. But this is certainly a very high percentage. In US it is about 16%. This is where government should consider its decision by being not too greedy and putting the burden on the common people. Subsidising product A and ending up with higher prices for products B to Z is simply ridiculous.
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