Petrol Price Hike: Breaking the backbone of Indian middle class

The government is trying to shift towards cleaner source of fuel that is ‘electricity’ but at what cost? The prices for fossil fuels like ‘petrol’ & ‘diesel’ have skyrocketed these days with a daily increase of 15 to 25 paisa on an average. It is high time that the leash on petrol price hike in India needs to be pulled or else it will further impact the rise in inflation amidst the already drowning Indian economy.

Our country runs on fossil fuels and it is a long way to go before we can go all electric. Till that time, we have to make do with petrol, diesel & coal. The recent petrol price hike in India has shaken the country’s middle class, who is most affected because of the petrol price hike.

Would you mind paying 2.5 times of a commodity’s actual cost? Well, not knowingly but we don’t and that’s why we are happy to pay such hefty taxes amounting to 69% of the total overall cost of petrol & diesel. Thus, since the beginning of 2021, India has become the highest tax-paying nation for petrol & diesel in the world.

You would be surprised to know that our government is exporting petrol & diesel to 15 countries for half the price. So, why is it discriminating among its own people? The straightforward answer is high revenue generation. For the last quarter, India generated a revenue of 1.6 lacs crores from the sale of petrol & diesel itself, astonishing, isn’t it

I know, you all must have many doubts to be cleared. Watch this video and everything will get cleared to you.

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