Petroleum Price hike in India

Petroleum prices are going to be hiked again. The new price will be effective from tomorrow (01/06/2011). This is the second hike that is going to be in effect with the price of petrol in a month's gap. According to source the rise in petrol prices would at least be a minimum of Rs. 1.60/litre. However the official increase price hike has not been announced yet. The official petrol price/litre is greater than Rs.67 till today in chennai.

When i was discussing the same to my colleagues they told me not be surprised if the petrol prices shoot up to Rs. 100/litre within a couple of months. Even they are thinking to sell of their luxury vehicles like Bike and Petrol cars and thinking about using the public transports for their daily commutation. Let's assume this scenario happens at least with 25% of lower and upper middle class people after this new petrol price hike. Does government has enough transportation resources to accommodate the increased commuters? Even now, the trains and buses are transporting a tightly packed crowd during the peak hours. Are there any plans with the government if this number increases?

Let us assume that government would implement some action plans based on the increase in commuters. The government buses will also run in same fuels only, rite? So, increase in the number of transport sources will lead to increase in the consumption of fuel which will in turn will force the government to increase in the public transport ticketing prices. Now, who is going to pay for the increase in the prices?

The common man again.

Posted in: latest petrol prices increase in india,petrol prices hike,petrol prices hike in india,petrol prices increase,updated fule price hike