Mangalore : The first ever steepest hike in petrol prices with effect from midnight of May 23, Wednesday, has triggered public outrage throughout the nation. The common man is wondering if it was the UPA government’s third anniversary gift to him, that too after the Parliamentary session ended, just to avoid any confrontation with the opposition parties on the issue.

The NDA, latest reports reveal has already called for a nation-wide bundh on May 31 to protest against the steep hike in petrol prices. The latest hike has given an effective tool at the hands of the opposition parties to target the ruling UPA at the Centre.

After all, why this steep hike? Government sources say the hike was inevitable as the rupee hit an all-time low of Rs. 56.19 against the dollar. Though the hike is by Rs 6.29 per liter exclusive of taxes, the amount would vary in different places in accordance to the taxes levied and would come upto above Rs 7.50.

Definitely a severe jolt to the common man. Meanwhile, news that  the Empowered Group of Ministers (EGoM) will meet shortly  to discuss a possible hike in diesel and LPG prices too, has only added salt to injury.

The opposition is demanding a roll back in prices and has described that the petrol price hike reflected the failure of the UPA government. However, almost all UPA allies excluding Trinamool Congress has backed the Government decision to hike fuel prices.

Though the government and petroleum companies are arguing that the price is being increased because of weakening of the rupee against dollar, some argue why the hike when the cost of crude oil has reduced in the international market. Finance Minister Pranab Mukherjee has however chosen to blame global uncertainties and the rising oil imports bill for the battering of the Indian currency. According to him “The quantum of India’s oil imports is substantial at around $160 billion to $170 billion annually.”

 India deregulated petrol prices in June 2010 but continues to subsidize kerosene, petrol and cooking gas to protect the poor from the impact of any inflation pressures. In the second half of 2011, oil companies raised petrol prices but did not follow suit later on following a request of the government in view of elections in some states. The previous hike in petrol prices was in December.

It is not just the hike in petrol prices that is a cause of worry for the common man. The hike in prices of other essential commodities that would follow soon is something that bothers the lay man very soon. The petrol price hike is sure to result in hike in auto fares as autorickshaw drivers are sure to demand for a revision of autorickshaw fares very soon.

 The hike in petrol prices that would affect the poor and middle class to a great extent has also thrown the spotlight again on the demand to further improve the public transport system. An effective public transport system would certainly encourage the common man to opt for buses rather than his private vehicle. A need is felt to press more and more CNG buses and other vehicles. The government which has hiked the prices of petrol has also a responsibility of bringing remarkable improvement in the public conveyance system as any such move would certainly reduce some burden on the common man.

But, will that happen is the question? Will the government yield to the demand for a roll back in petrol prices?