At a time when everyone is struggling to keep their jobs, most of them have already lost their jobs and now are just trying to keep their families afloat, the fuel prices are rising on a day-to-day basis. You hope that in these testing times, the government will make life easy for its people, but that doesn’t seem to be happening anytime soon.
What’s causing the price rise :
The reason is pretty much simple behind the rising fuel prices. The government has been increasing the duties on the fuel gradually over the last year. More than 62 per cent of the petrol price is made up of central and state taxes. The reason both the central and state government applies taxes separately is because petrol and diesel prices do not fall under the regulation of Goods and Service Tax (GST). Another crucial reason behind the rising fuel prices is the increment in the price of Crude Oil at the International Level. One barrel of oil that used to cost $40 in June has now reached $66 per barrel.
What’s the government’s excuse :
The government has successfully justified itself in increasing the fuel prices. The Pandemic has hit the economy which was already on its knees. Now to revive it, the government needs revenue and one of the major and fastest sources of revenue is increasing petrol and diesel prices. Also, the government states that it is high time that everyone starts switching to clean and renewable energy resources. It will not only cut its dependence on heavy oil imports, which the government obviously blamed on opposition, but also decrease the level of pollution.
But, what seems to be the talk of the hour is that the same government that used to criticize its opposition for rising fuel prices back then, is now increasing them and even justifying them. And even the media seems to have turned a blind eye on the issue. Because ultimately, it’s the middle class that has to suffer the consequences, no matter the government in power.