Chennai: Daily revision of fuel prices irks motorists, lorry owners

DECCAN CHRONICLE.
Published Sep 14, 2017, 10:27 am IST
Updated Sep 14, 2017, 10:27 am IST
Petrol, diesel rates have increased by Rs 6 in 2 months.
Similarly, diesel price on Wednesday was Rs 61 and this was around Rs 56 in July (Representational Image)
 Similarly, diesel price on Wednesday was Rs 61 and this was around Rs 56 in July (Representational Image)

Chennai: Motorists and lorry owners cry foul over the silent daily revision of petrol and diesel prices. In the past two months, diesel price has increased by Rs 6 and petrol price by Rs 7, say truck owners. 

According to sources with Indian Oil Corporation, the petrol price on Wednesday stood at Rs 72.95 per litre and this is an increase of Rs 7.37 when compared to the prices fixed during the first week of July. Similarly, diesel price on Wednesday was Rs 61 and this was around Rs 56 in July.

On Tuesday, petrol price was at Rs 70.38 per litre in Delhi, Rs 73.12 in Kolkata, Rs 79.48 in Mumbai and Rs 72.95 in Chennai. The prices if it continues at this ratio will lead to two percent increase in all the metro cities within two months. “During the mid of June, all major oil retailers like Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum announced that they would start the daily petrol price and diesel price revisions throughout the country.  At that time, the oil companies called the move as dynamic pointing out that this would benefit motorists,” said E. Perumal of Ambattur Industr-ial Estate Lorry Owners Association.

“In the past two months, the petrol and diesel prices in south India have surged up to Rs 6 per litre and this adds to the expenditure of every goods carrier inflating the prices of essential commodities”, explained A. Narayanan, who operates lorries in Namakkal and Chennai. The dollar-rupee value and global crude prices had reduced, but due to the central and state taxes and with the oil companies having autonomy to fix their rates the prices are daily revised to ensure that the companies make enough profits.





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