Prices of petrol, diesel in Patna touch year’s high

PATNA: Petrol and diesel prices touched this year’s high of Rs 82.96 and Rs 76.08 a litre, respectively, in the city on Thursday, stoking fears of inflation. Diesel prices went up by Rs 7.99 per litre and petrol by Rs 6.54 per litre in the city after enforcement of Unlock 1.0.
Ajay Kumar, manager of a Bharat Petroleum outlet at Dak Bungalow, said the prices of petroleum products continued increasing trend for the 24th consecutive day on Wednesday. “Only on June 24, there was no change in petrol price. The sale of diesel was 20% low. Petrol sales, however, started picking up from Wednesday,” he added.
K B Gandhi, manager of a petrol pump near Budh Marg, said as the prices of petrol and diesel are on the rise, sales have taken a plunge. “Usually, around 1,200 vehicles visit the filing stations, except on Sundays. However, with the increase in prices of petro products, number of customers has gone down substantially. Diesel sales have dropped by 20% and petrol by 25%,” he said.
Experts said the rise in petroleum products would influence the prices of other essential commodities.
D M Diwakar, an economist, said the surging fuel prices would put pressure on inflation and it would have cascading effect on prices of other commodities. “Now, there is no relation between the global crude oil prices and prices of petroleum products in the country. The international rate of crude oil is $38-42 per barrel. Accordingly, the prices of petrol and diesel should not be more than Rs 50 per litre,” he said, adding the Centre and the state government have increased taxes levied on fuel, including goods and services tax and VAT, leading to a rise in the prices.
Diwakar, professor at A N Sinha Institute of Social Studies, said the government was trying to mop up the losses they incurred during the lockdown by raising the prices of petroleum products. “In this situation, the price mechanism of other commodities would fail. Instead, the government should explore production capacity and generate employment to boost economy,” he said.
Residents also feared that the continuous hike in fuel prices would affect the prices of other commodities.
Anju Devi, a resident of Rajendra Nagar road number 12, said the prices of seasonal vegetables have started rising. “Although there is no effect on foodgrain prices at wholesale market, the retail shops have started increasing prices,” she said.
Meanwhile, autorickshaw drivers have decided to stage protests across the state on Friday against the rise in petrol and diesel prices.