TN CM Vijay calls fuel price hike ‘unacceptable’, seeks rollback
Chennai (PTI): Tamil Nadu Chief Minister C Joseph Vijay on Friday slammed the increase of Rs 3 per litre in petrol and diesel prices, calling it "unacceptable", and demanded its immediate rollback, claiming the revision would affect various sections of society.
He said oil marketing companies do not reduce prices in line with global crude price trends and "take the profits".
"Union government oil marketing companies have increased the price of petrol and diesel by Rs 3 per litre. This is not acceptable," Vijay said in a statement.
The hike has been effected after the "five-state polls" (four states and one union territory), he added.
This price rise will largely affect the income of the poor and middle class using two-wheelers and small vehicles, as well as others dependent on vehicles for their livelihood, the CM said.
It will ultimately result in an increase in the prices of daily commodities and also "affect the purchasing power of the poor," he added.
Citing the chain effect of the price revision, such as increased input costs for small units, he said it could lead to a "slowdown" in the market and exports.
"Therefore, I urge the union government to immediately roll back the price hike that will affect the poor and middle-class people and SMEs," Vijay added.
Global crude oil prices have surged more than 50 per cent since US-Israeli strikes on Iran on February 28 and Tehran’s subsequent retaliation, which disrupted energy flows through the Strait of Hormuz, a key artery for global oil shipments.
Petrol and diesel prices are now at their highest level since May 2022.
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Private bus operators in Karnataka to hike fares by 20-30 pc after fuel price rise
Bengaluru (PTI): In the wake of the hike in fuel prices, private bus operators have decided to increase fares by 20-30 per cent, depending on the route, effective from Friday midnight.
They have also called for government subsidies, a reduction in cess, and lower road taxes to improve the situation.
"The situation for bus owners in the state is already distressing due to high road tax and the impact of the Shakti scheme (free bus travel for women in government buses). On top of this, fuel prices have increased," Karnataka State Bus Owners’ Association President S Nataraj Sharma said.
"This will impose a burden of Rs 15,000 per vehicle per month on bus owners. If an owner has three buses, the burden will be Rs 45,000 to Rs 50,000 per month," he added.
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Speaking to reporters, he said the situation has made it inevitable for owners to increase fares by 20-30 per cent, depending on the route, under current conditions.
The increase may be roughly Rs 200 per seat, he added.
"For example, the current bus fare from Bengaluru to Belagavi is around Rs 1,000–Rs 1,200, which is likely to rise to Rs 1,350–Rs 1,400. Similarly, fares from Bengaluru to Mangaluru or Udupi currently range from Rs 900–Rs 1,000 and are expected to go up to Rs 1,100–Rs 1,200," he said.
Petrol and diesel prices were each hiked by Rs 3 per litre on Friday, the first rate increase in more than four years, amid mounting losses for fuel retailers due to surging global crude prices in the wake of the West Asia conflict.
The increase comes a couple of weeks after the Assembly elections concluded in Assam, Kerala, Tamil Nadu, West Bengal, and Puducherry.
