Historic backbreaker fuel hike in COVID-19 times

Economists suggest that rise in prices of petrol and diesel will adversely affect the suffering economy , the back breaking price hike has made people's life tougher in the time of exploding pandemic

user

NH Web Desk

First time in the history of the country diesel will be costlier than petrol, in a price hike for 18th straight day diesel has reached to a record price nearing Rs.80 in Delhi, economists suggest that the rise in the prices of petrol and diesel will adversely affect the suffering economy , the back breaking price hike has made people's life tougher in the time of exploding pandemic

In the harshest time of pandemic, the government is punishing the people for choosing it.

1. In the harshest time of Covid-19, government making life tougher

Diesel prices were hiked for the 18th straight day on Wednesday. This is the first time that diesel will cost more than petrol in the national capital.

2. Petroleum prices hiked for 18th times in 18 days

The prices were increased by 48 paise. A litre of diesel in Delhi will now cost Rs 79.88 which is more than petrol price (Rs 79.76 per litre).

3.A litre of diesel in Delhi will cost more than petrol for the first time

The rates are effective from 6 am (June 24), according to state-run Indian Oil Corporation, petrol prices near Rs 80 in Delhi; diesel at all-time high

4. Petrol and diesel prices are all time high near Rs 80 which is am all time high

The price of petrol has been hiked by a cumulative Rs 8.50 per litre, diesel by Rs 10.48 a litre in the national capital, respectively over the past 18 days.

5. The hike for petrol has been Rs.8.50 per litre and diesel has been Rs.10.48 per litre over past 18 days

According to reports, domestic rates of auto fuels are likely to cross the Rs 80 per litre mark soon, in line with rising international oil prices.

6. According to reports, domestic rates of auto fuels might cross Rs.80 per litre mark soon

The economic experts are of the opinion that this hike in the price of diesel and petrol will adversely affect the already suffering demand in the economy

7 The hike will adversely affect the demand : economists

Adding to the direct burden on the pockets of people, the fuel price hike will prove to be a back breaker with indirect impact on prices of the essential goods being travelled and manufactured

8 The rise in the prices will prove to be a backbreaker for people

Congress president Sonia Gandhi has already written a letter to the Prime Minister calling the fuel price hike insensitive and irrelevant in tough times of COVID-19

9. Sonia Gandhi had written to Prime Minister calling the hike insensitive

Sonia Gandhi had also demanded the government to roll back the increased fuel prices but instead of offering relief to the public, government is trying to fill it's pocket with harsh hike

10. Sonia Gandhi had demanded a roll back in increased prices

The fuel prices in the international market are considerably quite low as compared to the prices in India

11.The price in India is considerably high as compared to the international market

Owing to a difference in international benchmark prices, petrol generally costs between Rs 5-8 more than diesel. The two fuels had a price gap of Rs 7.3 a litre in early May but their equation changed following disproportionate hikes in VAT on two fuels by the state government.

12 The international bench-mark prices of petrol and diesel are very low

VAT on petrol was hiked to 30% from 27% while VAT on diesel was jacked up almost twofold to 30% from 16.75% by the Kejriwal government.

13.VAT on petrol was hiked to 30% while on diesel was jacked up two fold to 30% from16.75%

Fuel rates have been hiked across the country, varying from state to state basis the incidence of VAT (Value Added Tax), or local taxes.The country is under tremendous pressure of the pandemic with people losing jobs and pay cuts, the fuel price hike in such times is not only insensitive but cruel

14.The price hike in times of pandemic is not only insensitive but cruel

For all the latest India News, Follow India Section.

next