Petrol price hike is not 'big news' in India. In the last nine months, there have been nine hikes. In spite of this, the Oil companies are crying hoarse that they are losing Rs 5.50 on a litre of Petrol, Rs 11.16 on a litre of diesel, Rs 23.55 on a litre of kerosene, and Rs 298.00 on a standard cylinder of cooking gas. They also warn that they are likely to end the year with a loss of Rs 180,000 crore!
Despite this crisis, the government has been 'patiently' waiting for an 'auspicious' moment! It came within 24 hours of the announcement of the state election results, and the price was hiked up by Rs 5.00 per litre, with a warning that a similar hike was around the corner.
Do you think, these hikes have really anything to do with the international crude prices? More than 50% of what you pay is taken away by the government as taxes, duties and cess. On the other side the petroleum companies are left to splurge! No one scrutinises their performance parameters. There is no effort to optimise their productivity. No questions are asked. Why choose the hard way, when it is easy to cover up the mounting inefficiencies through price increases?
After all, you and I have the patience, experience, and the resilience to bear it!