Real culprits behind Fuel Price Hike
The following article analyses the real reasons behind the recent petrol price hike by over Rs. 7.54 in India which was the largest ever seen in recent memories. The hike, while only benefiting the oil companies and shareholders, was met with shock across most parts of India that saw protests everywhere and also a Bandh on 31st May that saw many parts of the country shut down. While the opposition parties may have scored a few brownie points against the ruling Congress party, but the role of the BJP during its reign at the Centre (1998-2004) that saw changes in the way petroleum based products are priced is also a causative factor for the increase in fuel prices today, which cannot be ignored. Nor can one ignore the role of the state governments in not containing the fuel price.
Hoax of Petrol subsidy