State-owned oil companies have increased the petrol price by Rs 1.40 a litre with effect from March 1 — the second successive hike in a fortnight. Seemingly, oil companies have the right to do what they want, as this hike was outside Finance Minister P.Chidambaram’s Budget. The Nirbhaya fund and the all-woman public sector bank are meaningless gestures, when this sort of an act is sponsored by the Government.
Crude oil prices have declined in the world market factoring in the rupee’s value. Why, then, is the Government allowing oil companies to increase the price?
It is a testing time for the common man.
K.A. Solaman
The Hindu Business Line Dated Mar 3, 2013
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