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  1. Petrol price hike sets Twitterati’s imagination on fire

Petrol price hike sets Twitterati’s imagination on fire

Due to the surge in prices because of rise in international oil prices, the government has been on the receiving end of the backlash since the hikes because of the taxes imposed on the petrol.

By: | New Delhi | Updated: May 22, 2018 6:34 PM
Petrol and diesel prices have skyrocketed.

Petrol and diesel prices have skyrocketed. While petrol prices has reached Rs. 76.57 in Delhi, it touched Rs. 84 in Mumbai. Due to the surge in prices because of rise in international oil prices, the government has been on the receiving end of the backlash since the hikes because of the taxes imposed on the petrol. Fuel prices differ from state to state, depending on the percentage of tax levied on it.

Under the previous government, petrol and diesel prices were regulated by the government, meaning government controlled the prices of fuel from rising by giving subsidies even when international oil prices were on the rise. But as the NDA took over, it deregulated the petrol, giving autonomy to the oil companies to regulate the prices. Hence even when the international oil prices fall, its benefit is not always transmitted to consumers. In 2017, the government came up with a daily price revision scheme under which fuel prices are revised on a daily basis. People who will have to pay more for petrol are now disappointed with the recent hikes.

This is how people are reacting to petrol price hike on twitter

People are unhappy with rise of petrol price. They are asking political parties and celebrities to raise their voice against the recent hikes and also now demanding that hikes should be recalled.

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