From "Time To Buy Cycle" To "We Understand": Commuters Divided On Fuel Price Hike

Oil companies say they have been incurring losses due to higher global crude oil prices.

Advertisement
Read Time: 5 mins
The petrol and diesel prices were raised by Rs 3 per litre for the first time in four years
New Delhi:

There are voices of both support and discord as the state-run oil companies on Friday raised petrol and diesel prices for the first time in four years by Rs 3 per litre, as they aim to recoup some of the losses incurred due to higher global oil prices.  

Oil companies say they have been incurring losses due to higher global crude oil prices.

The government had earlier raised prices of liquefied petroleum gas (LPG), a primary cooking fuel for millions of households. 

"There's nothing we can do or say about it. Just live with it. No point saying anything," a man, with a hint of resignation in his voice, said in Bengaluru.

"I think the government should realise they can't keep hiking everything up, because with the hike in petrol prices, the price of everything else is also going to go up. The middle class people are going to suffer," he told NDTV.

The steps came after Prime Minister Narendra Modi said restrictions on fuel use were necessary to save foreign currency spent on fuel imports. 

Read: How India's Rs 3 Fuel Hike Compares To Other Nations

The geopolitical tensions, particularly the US-Israel and Iran conflict that began on February 28 this year, have disrupted global crude oil supplies and pushed Brent crude prices above $ 100 per barrel.

Advertisement

Meanwhile, the Centre has defended the price hike. Union Minister Kiren Rijiju compared the 3.2 per cent and 3.4 per cent price rise of petrol in India with other countries, claiming they have witnessed hikes ranging from 20 to nearly 100 per cent due to the West Asia conflict. 

"The prices are rising due to global issues, like the Middle East war. The government has already controlled the prices for two years without hiking that adjusted the rates, market fluctuations. Now, is the time that it can't control it. We understand the situation," a man on a bike in Bengaluru sympathised with the government's approach.

Read | Fuel Up Rs 3: Why Petrol, Diesel Prices Rose After Weeks Of Centre Holding The Line

The Confederation of All India Traders (CAIT) has termed the Rs 3 per litre increase in petrol and diesel prices a 'measured and responsible decision' aimed at ensuring an uninterrupted fuel supply and maintaining economic stability amid prevailing global uncertainty. 

Advertisement

The CAIT acknowledged that higher fuel prices could have some impact on transportation and logistics costs but stressed that citizens and businesses should support decisions taken in the larger national interest during challenging global conditions.

A man from Jaipur was not so supportive and took a swipe at the government. 

"Haan, cycle lene ka irada hai (Yes, I intend to buy a bicycle)," he told NDTV when asked about his plans amid the rise in fuel prices. 
In Delhi, petrol prices rose to Rs 97.77 per litre from Rs 94.77, while diesel climbed to Rs 90.67 from Rs 87.67, according to data from the Indian Oil Corporation. 

Rates vary across the country depending on local taxes.

Delhi's Chief Minister Rekha Gupta on Thursday said government offices will have two work-from-home days a week for those able to and urged residents to cut back on private vehicle use.

"There are no problems right now, but they will have to be faced in the future. People from the lower strata of society will face the most difficulties," Surender Singh Sekhawat in Delhi told NDTV.

"It was expected that prices would rise. I also feel that this could potentially be a diversion related to NEET paper leak," Ajitesh in Delhi said.

Another Delhi commuter suggested that the hike of Rs 3 is not much.

"It won't be that much of a hassle. After all, it's only a hike of Rs 3. If it had gone up by Rs 8 or 10, then it would have been a bit troublesome; but with just Rs 3, there won't be any significant inconvenience. Besides, considering the situation prevailing since the war, the increase hasn't actually been that substantial," the man told NDTV.

In Chennai, a metro city, petrol is at Rs 103.6 and in case of diesel it is at 95.25 after the hike.

"What can I do? The situation is turning from bad to worse everyday," a commuter told NDTV.

People said with the rise in fuel prices, the rates of other things too will rise in due course. 

"If oil prices are rising, then the rates for other commodities will also increase in the days to come. The war has been going on for quite some time, yet prices had not risen until now. Since oil prices have suddenly surged -all at once - we are neither accustomed to it nor were we prepared for it. This will place a significant burden on our pockets," a man in Chandigarh said.

"Incomes are low, and given the way rates are rising day by day - just as LPG became expensive recently, and now petrol has gone up - it is a very difficult situation in today's times," said another in Chandigarh.

The hike's effect was steepest in Telangana where the petrol prices are now at Rs 110. 

"It is costing Rs 110. I generally used to travel by car, but now I am using a two-wheeler. The Prime Minister had made an appeal, which is why I am now traveling by two-wheeler. One must do something or the other for the country, and that is exactly what I am doing," a man in Hyderabad told NDTV.

Featured Video Of The Day
Madhuri Dixit At 59: A Timeless Bollywood Icon
Topics mentioned in this article