Petrol and diesel prices have been on the rise, impacting everyday life. On Tuesday, a litre of petrol cost ₹71.62 and diesel ₹60.02. In the last two months, the price of petrol has been steadily climbing. Consumers pay ₹6.02 per litre more now. Similarly, diesel that was ₹56.13 on July 1, now sells at ₹60.02 — making the consumer pay ₹3.89 more per litre.
Industry watchers said that the prices, however, have been fluctuating. On August 13, petrol touched ₹70.19 a litre and diesel ₹60.16.
In the first few days of the daily pricing mechanism, fuel prices went down.
Consumers, who have been calculating the figures, say that the price hike even by a few paise every day has been hard on their pockets. D. Jagan, an autorickshaw driver near Velachery railway station, said he has no idea he had been paying more per litre of petrol. “I don’t know why fuel prices are increasing. I cannot afford such a steep increase,” he said.
S. Kamalesh, who owns a two-wheeler, said that since there is a change every day, it is difficult for the common man to keep track of the rates.
“Consumers can only grumble. There is no way to register our protest against such hikes,” he added.
The transport sector has been badly hit by the fuel price hike. Rajinder Singh, general secretary, All-India Confederation of Goods Vehicle Owners’ Associations, said that the new system has badly impacted the industry.
Pitching for old system
“Earlier, the escalation was done once in 15 days or in a month and we would watch out for increases. But in the last two months the increase has been about ₹4 per litre of diesel and there is no respite from this. When we send the vehicle on long trips, there is a variation of about ₹1 in a week. We want the government to go back to the old system,” he said.
Because the transport industry has been hit, other sectors too have taken a beating. R. Srinivasan, secretary, Tamil Nadu Hotels Association, said that when transport cost goes up, prices of all commodities will automatically go up. “Already the hotel industry has been hit by 30% due to GST. Wholesalers who supply to hotels are also hiking the prices of goods. We cannot pass this increase on to our customers since they already pay quite a hefty amount as GST,” he said.
Other items such as electrical goods too have been affected. Hukmichand Shah, president, Madras Electric Trades Association, said Tamil Nadu buys electrical goods from other States and transporters have decreased the discount they give to traders.
“GST has increased the prices of electrical goods by 3-4% and now fuel prices will lead to a further increase of 1-2%. We need to revert to the old system,” he said.
Consumer activist T.Sadagopan said that there was no transparency in the way the fuel prices are fixed. “The consumer has a right to know.”