If people are not moving on the streets against the huge increase in the prices of petrol and diesel, then one of the main reasons for this is their imprisonment in homes due to corona and lockdown.
This should not be construed to mean that this increase is not affecting the people. In spite of crude oil prices falling to the bottom of the international market, the Indian oil marketing companies did not make petrol and diesel cheaper, they kept their prices stable for 83 days.
Meanwhile, on 14 March, the central government increased the excise duty on petrol and diesel by Rs 3 per liter and again on May 5, the excise duty on petrol and diesel was increased by Rs 10 per liter. Oil companies did not raise prices even though the tax was so high.
But after reaching the negative zone in April, when the oil prices in the international market gradually went up, Indian oil companies started the daily process of adjusting the prices as per the cost.
After this, diesel prices have increased by more than rupees ten and a half rupees and petrol prices by eight and a half rupees per liter in the total 18 days since June 7. The main role behind this is the huge increase in tax, which can also be understood in the current situation. All the ways of income of the government are almost closed, so it does not have many options to raise income.
On the other hand, it is also true that the decision to increase the prices of petrol and diesel is not the government but the companies concerned. Despite this, the side effects of this huge increase in fuel prices cannot be ignored. After facing a difficult period of lockdown, the cargo trucks started running that this new disaster has hit the transporters.
There is a limit to increasing freight. As of now it has increased, not only the prices of essential commodities have increased, but also the uneasiness of truck operators. Indicative measures like handing over the keys of the car to the government have been announced by their organizations.
But the most dangerous is the effect of expensive diesel on farming. The plowing, sowing, and transplanting of fields are at the head, but the cost of tractors and pumping sets is reaching the sky.
This year, the only sector on which all the expectations of the economy rest, is the agricultural sector. In such a situation, if the expensive diesel broke the back of the farmers, then not only the villages but also the cities would come in the grip of this disaster.
Clearly, despite hearing and accepting all the pleas that the oil price hike is necessary, the need to control prices is not diminishing. The government should find a way in the time that the inflation of petrol and diesel is not out of tolerance.