Have you ever had these kinds of conversation when you lift your bike to the petrol booth to fill the fuel tank? If, Yes please vote for the change.
Petrol and diesel prices were hiked by oil companies for the first time just after 2 days of Karnataka Election. Oil PSUs, who had kept rates unchanged for nearly three weeks before The 15th Karnataka Legislative Assembly election despite input cost spiking, reverted to daily revision in prices no sooner had the state voted to elect a new government. A similar case can be found during other state election like Gujrat, Manipur, etc.
The petrol price was hiked by 17 paise, and diesel by 23 paise for the first time since a month of April 24 this year. The inflation recorded in Delhi at a fresh high in four years and eight months. In a new all-time high, the diesel price today scaled Rs 66-mark for the first time. According to the Indian Oil Corporation (IOC) website, petrol price in India saw a rise of 17 paise per litre in Delhi, 18 paise per litre in Kolkata, 17 paise per litre in Mumbai and 18 paise per litre in Chennai. Diesel prices were hiked by 21 paise per litre in Delhi, 5 paise per litre in Kolkata, 23 paise per litre in Mumbai and 23 paise per litre in Chennai.
- EC announces single-phase ‘eco-friendly’ Karnataka Election on 12 May.
- Consequently, fuel prices remained stagnant across the country from April 24; they were ₹75.86 and ₹67.08 a litre for petrol and diesel, respectively, in Bengaluru. The move to placate the voters of Karnataka thus benefited consumers across the country.
- Counting date for Election is scheduled on 15 May.
- Thereafter, there has been no looking back and the prices have kept climbing. The petrol price was hiked by 17 paise, and diesel by 23 paise for the first time since a month of April 24 this year. The inflation recorded in Delhi at a fresh high in four years and eight months.
Looking Back at the Major Changes
On 16th June 2017, government introduce dynamic fuel pricing system i.e. daily price change of fuel means the companies will not wait for two weeks to adjust the price of petrol and diesel in tandem with crude price as they do now. Instead, they will change the price every day based on crude price movements.
“We are moving into a dynamic pricing. Correction in prices now happen after a gap of a fortnight but from now on it will be on daily basis to reflect the cost,” IOC Chairman Sanjiv Singh said.
It is not always about the reason and cause sometimes we need a space to evolve around the vote bank. Vote Bank is a popular game among all the national parties played across the various states in order to score maximum points and thus lead the billboard. During the gameplay, you got a star that represents your experience level and it comes with a unique section called ‘The Profile’ where they put their fake promises, interests and attack their target audience. A quite Interesting game isn’t it?
After such rules and regulations government follow bad customs in order to get maximum votes. Thus to facilitate the voters they provide a pseudo benefit scheme and get the outrage. All these scandals are shared on social media but no reflection in the mainstream media i.e so-called news channel, newspapers, etc.
“This will cushion the companies from any loss they face due to currency and crude movements over a 15-day period and will make their margins more predictable,” said Dhaval Joshi, an analyst with Emkay Global Financial Services.
So, I hereby request all the political parties as well as Election Commission to properly follow the code of conduct during an election and all I request people to get aware of such false practice.
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- A selenophile, sufferer of OCD (Obsessive Coffee Disorder), at last Pantomath with little precision.