Petrol, diesel prices up, rupee down to all-time low

The price of petrol and diesel is going up and up on daily basis. It has touched a record all-time high. On the one side petroleum prices are rising unbridled and the value of rupee against the dollar is falling and has touched all-time low on the other. The rising prices of petrol and diesel have a cascading effect on all essential commodities, and ultimately the common poor people are burdened. As far as the NDA govt. at the Centre is concerned, it washes its hands off the rising prices of petrol and diesel by saying that it is because of international market behaviour that they go up. The price of petrol in Mumbai has crossed Rs. 80 per litre while it is to touch Rs. 80 in Delhi. With the increase in the price of diesel, the carriage cost of all commodities of daily use naturally goes up, and that is transferred to the consumers. So, ultimately the common consumers bear the brunt most due to rise in petroleum prices. Here, the double game of the NDA govt. at the Centre is exposed. When the crude oil prices in the international market were at its lowest level two years back, the govt. did not cut down the prices of diesel and petrol nor did it slash the excise duty and tax to benefit the consumers. It said that the profit earned from the petroleum products in terms of excise duty and taxes will be used to benefit the consumers when the price of crude would go up in the international market. In the prevailing scenario of the international oil market, the rise in the price of petrol and diesel is a must. But by cutting down the excise duty and other taxes levied by the states and the Centre and bringing the petroleum price under GST, the govt. can provide relief to the customers. But it is itself trying to earn a profit by imposing excise duty and other taxes on petrol and diesel. The weakening of rupee against the dollar is also a major cause of concern for the government. It has gone all time low. Prime Minister Narendra Modi and all the senior BJP leaders had criticized the previous UPA government of Dr. Manmohan Singh for the unbridled rise in the price of petroleum products and the falling value of rupee against the dollar. But at that time, the record was not made as they have done now. PM Modi and other BJP leaders made a mockery of the previous govt. for its inaction to bring down the prices of petroleum products. They claimed that they would bring them down this way or that way. But now, they wash their hands off any accountability and cite international market price as the cause behind the rise in prices of petrol and diesel. It appears that everything has been left to the mercy of gods. No effort is being made by the Ministry of Petroleum to halt the rise in petrol and diesel prices. The time has come for the Prime Minister Narendra Modi to intervene to stop the rise in the price of diesel and petrol any more.