Price of petrol surpasses the Rs 100 per litre mark in parts of Karnataka

Bengaluru: On Monday, petrol prices in several parts of Karnataka surpassed the Rs 100 per litre mark. At Sirsi, a district in Uttara Kannada, the price of petrol was the highest at Rs 103.51 and diesel at Rs 93.21 per litre.

Even though in Bengaluru, fuel prices rose by 29 paise, it remained below the Rs 100 mark. The petrol price was Rs 98.49 and that of diesel was Rs 91.41 per litre. Balaji Rao, president of Bengaluru Petroleum Dealers’ Association said that in 10 days, the price of petrol will cross the Rs 100 per litre mark in Bengaluru too.

He stated that there are several reasons for fuel hike such as lockdown, the rise in dollar price, and dip in the economy in which fuels sales is a huge contributor. The cost has gone high due to the Iran issue and also, India is buying in dollars from other OPEC countries.

Pradeep K, a factory manager, said, “Since there is a lockdown and movement is less, the rising fuel cost has had little impact so far. It will hit hard when the lockdown is lifted and movement to offices becomes regular. The rise in cost of other items along with fuel cost will have a major impact on the monthly home budgets.”

People in the districts who are already suffering due to the pandemic and the subsequent lockdown, are also hit hard by the hike in fuel prices. Even though their physical movement outside is restricted, the petrol and diesel prices have an impact on the essential goods.

Businessmen and cabbies anxious about fuel prices; want govt to cut excise duty

Sham Orekundy, an interior decorator in Davanagere said, “The increase of prices of petroleum products will have a direct impact on the livelihood of the common man. Hence, the government should immediately cut excise duty and ensure that fuel prices are brought down.”

Stock and bullion trader Rohit S Jain is of the view that the government bring down excise duty and issue oil bonds for the time being.

On Monday, in Davanagere, petrol price rose to Rs 100.17 from Rs 99.88 and diesel to 92.82 from Rs 92.54. In Chitradurga, the petrol price went up from Rs 99.90 to Rs 100.16 and diesel from 92.55 to 92.81, while in Ballari, petrol price was at Rs 100.08 per litre.

“I have no choice but to increase the price of my items, which people might not accept. If I have to survive, the prices have to be increased”, said Thimmanna, who sells fried foods in his two-wheeler in Davanagere.

DS Sagar who owns an IOC fuel station said, “Our working capital and bank credit will also become less with every passing day as we have to pay more to procure petroleum products. Also, variable costs for transportation, workers’ salaries have increased.”

T Manjunath, a resident said that it is hard to take vehicles outside now. Autorickshaw and cab drivers said they are facing hard times as fuel prices are increasing, but fares have remained unchanged. Hitting out at the government, Belagavi industrialist S N Shet said the fuel price hike and rising rate of inflation will have an adverse impact on various other sectors besides trade in essential commodities. The surge was witnessed in Belagavi too where the price of petrol rose to Rs 98.36 and diesel to Rs 91.32 per litre.

Somashekhar Khadbadi who is a businessman said that the problems for the common man will only worsen further due to the rising inflation once the situation returns to normal. It will become even more difficult for small businesses which are on the verge of closure.

In Kolar, farmers stated that a rise in fuel prices will have an impact on them. They are already suffering huge loss due to lockdown as their produce is not being sold in the market. In Kolar, the price of diesel was Rs 91.37 and that of petrol was Rs 98.39 per litre on Monday. The petrol price rose to Rs 98.05 and diesel price to Rs 91.01 per litre. Farmers’ leader, Kuruburu Shantakumar said, “Apart from fuel, soaring vegetable prices and fruits during the lockdown have fuelled anger. Though the prices of farm produce have remained low for farmers, middlemen are making a killing while consumers are feeling the pinch.”