What's justification for recent hike in petrol price in the wake of IOC Q4 Profit result and the declining International Oil Price?
The reason behind rising fuel prices have
always been a puzzle for a common man especially when the international oil
prices are on the way down, domestic fuel prices are on the way up to the
throat of struggling Indian middle class, strangling them tighter and deadlier
than the blue-ringed octopus.
During the first half of 2008 – the
beginning of worldwide recession which saw an unprecedented hike in the per
barrel crude oil prices to almost 150$ and then went on to witness a record
slump which brought down the prices down to its original, non-inflated levels -
as low as 40$ - how many of these oil companies had actually reduced the prices
of its various products and even if they did, to what extent? Everyone knows
it, if you are hit on the same part many times, either the part goes numb or
the pain becomes a habit. No one except a few opposition parties cashed in on
the opportunity to set up a blame game and took it further to the same clichéd
way, an equally rowdy and troublesome Hartal or Bandh as they dearly
call it. But could that be anywhere close to what the 'Never-say-die-Nigerians'
did in the recent past – 'industrial action', as they stylishly called - the
whole nation stood up like one big pillar and executed it? No, never. Because in Nigeria apart from
their First Citizen, there aren’t many celebrities in the form of millionaire
show-business stars, billionaire civil-servants in white-clad, their chain of
followers or wandering criminals masquerading in and as Godmen, who at their
will, divide and rule the common man from where the Colonial Whites left; and
make them their fans, partisans or devotees, who would happily dance to their
tunes.
Price hiking strategy or mechanism is
another joke to fool the highly literate and intelligent public easily. When
their requirement is to increase six rupees they will first increase it to
eight rupees flat and then to console them, will make a grand announcement of 'reduction
sale' – a paltry two rupees cut – giving shame even to a retail garment shop's
offer during festival season.
The state owned oil companies loss worries
matter most to the Government than the under-privileged citizens who, I
personally don’t think that, they lack courage, 'being Indian' but it seems that
they are scared of their life to react due to the fact that they are abundantly
fed with media stories of political, police and real mafia who will never
change themselves but will 'fix' those who react against truth, be it a mere social
worker, be it a Supreme Court Justice, or be it the Prime Minister of India himself,
they will not leave any stone unturned, when it comes to those who tries to
make a 'change' for the better. What do you expect from the land where even the
ever-honored King Mahabalis said to have been sent down to the 'nether
world' for being true to himself and good to his people?
Merely a week after hiking the Petrol
price nation-wide on the loss worries of state owned oil company, there is an
announcement in the national newspapers that IOC's profit has tripled in the
last quarter with the compensation received from the Government for selling
diesel and cooking fuels below cost. The irony is that if a petty compensation
settlement from the Government, can TRIPLE India's biggest oil refiner's profit
level, then a cost hike of eight rupees per litre petrol price was JUSTIFIABLE(?),
considering the fact that an average Indian's monthly income is way less than
hundred dollars and the rising cost of living can tear the common man's pocket
apart and their budget go haywire. Or do they think that a common man is not
wise enough to connect these two simple pieces of news put together?
So, the next question is who is going to
react? The rich – they don’t care; the politicians, - they live a near tax-free
life or the aforementioned middle class and poor – who are kept threatened of
their life – dare they react!
Adwin Kris.
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