Oil companies today hiked petrol prices by Rs 1.80 per litre to offset the fall in rupee that has made imports of crude costlier. After today's increase,petrol in Delhi will cost Rs 68.64 a litre. The rates will vary in other cities according to local levies. This is the second hike in petrol prices in less than two months and it came on a day when the food inflation rose "dangerously" to 12.21 per cent for the week ended October 22. State-owned oil firms Indian Oil,Hindustan Petroleum and Bharat Petroleum had earlier hiked petrol prices by Rs 3.14 a litre on September 16 when the rupee was ruling at about 48 to a US dollar. The local currency has depreciated further. The rupee today closed at 49.14/15 against the American currency. The government had in June last year deregulated or freed petrol from all price controls but the retail rates have not moved in line with cost as high inflation rate forced the oil companies to seek 'advice' from parent oil ministry before revising rates. Left parties demand immediate roll-back of petrol price hike Left parties today demanded immediate roll-back of petrol price hike saying Congress-led Government has become totally insensitive to the woes of the common man. Both CPI-M and CPI also asked their state units to protest the move by staging demonstrations in all nooks and corners. CPI's national secretary D Raja said the hike in petrol prices was a big blow to the "Aaam Admi" at a time when food inflation has reached double digits and prices of essential commodities have shot up. "It shows how insensitive,the Congress-led UPA government continues to be to the suffering of the common people," he said. Alleging that there is "no transparency" in the fixation of petrol prices,Raja rued that the decision has been taken when the Prime Minister is away. CPI-M leader Nilotpal Basu also said the Government was "totally insensitive" to the miseries of the people. "The taxation policy of hydro-carbon is totally anti-people. Due to ad valorem taxes when the prices of petrol increases,tax collection rises even more," he said. Basu said that the hike has also come at a time when the Petroleum ministry has already announced moves to hike diesel and cooking prices. The CPI-M leader said that it will lead to rise in prices of essential commodities. Both leaders said the protest will be carried out all over the country. Oil companies today hiked petrol prices by Rs 1.80 per litre to offset the fall in rupee that has made imports of crude costlier. After today's increase,petrol in Delhi will cost Rs 68.64 a litre. The rates will vary in other cities according to local levies. BJP terms petro hike as "midnight deceit" BJP today alleged that the hike in petrol prices was yet another act of "midnight deceit" by the UPA and insisted that the common man would not spare the dispensation led by the "economist" Prime Minister for its arrogance. "This is yet another midnight deceit with the people of India. The Congress party has unleashed a terror of a different kind on the common man. While the Congress completely remains insensitive the Prime Minister and the government have once again cheated the people," BJP spokesperson Rajiv Pratap Rudy said. He pointed out that this hike of Rs 1.82 per litre of petrol has come at a time when the country is already reeling under a whopping food inflation which has remained untamed for the last three years and overall inflation remains unabated. "The government cannot be spared anymore and it is high time to crush their arrogance. The BJP wonders whether this repeated raising of prices in the last three months by over Rs 7,is a reaction against the middle class raising a pitch and a banner of revolt against corruption," Rudy said. He maintained that these appear to be attempts by the Congress led government to teach the common man a lesson. "The BJP is of a firm opinion that the Economist PM has shamed the nation once again," Rudy said. Cong asks govt to find a way to lessen petrol price hike burden Congress today asked the government to find a "way out" so that the common man bears the minimum burden of petroleum price hike. " We are very sorry. We understand the problems of the common man. Goverment will have to find a way. Some way has to be found on the issue of hike in petroleum prices so that the common man has to bear the minimum burden due to such hikes," party spokesperson Rashid Alvi said. He at the same time added "we also understand the complusion of the government. Oil prices will rise according to the international pricing of crude oil. Moreover,this is the decision of oil companies which are now independent to take their own decision." The Congress spokesperson also said the impact of the hike in petrol pricese can be lessened if states cut down on their taxes on petroleum products. "Anyhow,the government will have to find out a way," he said. Oil companies today hiked petrol prices by Rs 1.80 per litre to offset the fall in rupee that has made imports of crude costlier.
