‘It is having a cascading effect on the prices of essential commodities’
The CPI(M) district committee has condemned the steep hike in the prices of diesel and petrol by the Centre, at a time when the common people were reeling under the severe crisis due to the second wave surge in COVID-19.
In a statement here on Monday, party district committee secretary K. Lokanadham criticised the move of the Centre in hiking the prices of petroleum products after the conclusion of the elections in five States in the country. The prices were either stable or had decreased slightly till the counting process began on May 2. After the declaration of results, the prices began rising steadily and are galloping for the past three weeks, he said.
On May 31, the price of petrol was ₹99.39 and diesel was ₹93.71 in Visakhapatnam. The Centre was hiking the prices of petroleum products, when the international prices of crude oil was on the decline. The Centre had given the freedom to oil companies to revise the prices on a daily basis and the burden was falling on the consumers, Mr Lokanadham said.
The hike in the prices of petroleum products was having a cascading effect on the prices of essential commodities. He demanded that the Centre regulate the prices.
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