Against Hike in Petrol, Diesel Prices

Monday, March 17, 2003

Press Statement

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

Reverse Hike In Petrol, Diesel Prices

The steep increase announced in the prices of petrol and diesel is unwarranted and will push up the prices of all major commodities. The increase of Rs. 1.50 per litre for petrol and Re. 1 for diesel comes soon after an earlier increase, just a few days ago. The BJP-led government did not reduce duties on petroleum products in the budget. Instead, it imposed a road cess of 50 paise per litre for petrol and diesel, on the basis of which there was a hike of Rs. 1.50 per litre for both fuels on March 1.
Thus, the two successive increases are not related only to the increase in the world prices of oil but is due to government policy of heavily taxing petroleum products. The Polit Bureau of the CPI(M) demands that the current hike in prices be reversed as it will have a deleterious effect on the economy and the prices of all commodities.