Kolkata, a major city in east India, is facing a surge in fuel prices. Petrol and diesel rates have reached record highs, causing concern among residents and businesses. The increase in fuel prices is not unique to Kolkata, but it is certainly affecting the city’s economy and daily life. In this article, we will explore the reasons for the price hike, the impact on Kolkata’s economy and commuters, and the actions being taken to address the issue.
Petrol and Diesel Prices Surge in Kolkata
Over the past few weeks, petrol and diesel prices in Kolkata have been steadily increasing. On April 9, the price of petrol in the city stood at Rs 91.35 per litre, while diesel was priced at Rs 84.35 per litre. These prices are among the highest in the country and have made it difficult for many Kolkata residents to afford daily transportation.
Kolkata Residents Feel Pinch of Fuel Price Hike
The increase in fuel prices has hit Kolkata residents hard, especially those who rely on personal vehicles or taxis to commute. Many have had to cut back on their travel or switch to public transportation to save money. Some businesses are also struggling to cope with the higher fuel costs, which are affecting their transportation and logistics expenses.
Petrol, Diesel Rates Reach Record Highs in Kolkata
The current fuel prices in Kolkata are the highest in recent years. In fact, petrol prices have not been this high since October 2018. The increase in prices is largely due to the rising cost of crude oil in the international market, as well as the higher taxes levied by the central and state governments.
Why are Fuel Prices Increasing in Kolkata?
The primary reason for the surge in fuel prices in Kolkata is the increase in crude oil prices in the international market. The price of crude oil has been rising steadily since November 2020, driven by factors such as the OPEC+ production cuts, the global economic recovery, and the recent Suez Canal blockage. Additionally, both the central and state governments have increased taxes on petrol and diesel to boost their revenue.
Kolkata Petrol Prices Hit Highest in 2021
On April 12, 2021, petrol prices in Kolkata reached a new high of Rs 91.41 per litre, surpassing the previous peak of Rs 91.35 per litre in September 2018. This increase has further aggravated the financial burden on Kolkata residents and businesses.
How Does Fuel Price Hike Affect Kolkata’s Economy?
The surge in fuel prices is likely to have a significant impact on Kolkata’s economy. It will increase the cost of transportation and logistics, which will eventually lead to higher prices for goods and services. This, in turn, will affect the purchasing power of consumers and could reduce their demand for certain products. Additionally, higher fuel costs could also discourage businesses from investing in the city, which could have long-term consequences for the local economy.
Kolkata Commuters Struggle with High Fuel Rates
Kolkata commuters are finding it increasingly difficult to afford the high fuel rates. Many have had to reduce their travel or switch to public transportation, which is not always convenient or accessible. The higher fuel costs are also affecting the livelihoods of taxi and auto-rickshaw drivers, who are struggling to earn a decent income.
Kolkata Government Under Pressure to Reduce Fuel Prices
The Kolkata government is under pressure from various quarters to reduce fuel prices. Several political parties and trade unions have demanded a rollback of the fuel taxes levied by the state and central governments. Some have also called for a reduction in the profit margins of oil companies.
Kolkata Fuel Prices Follow National Trend
The increase in fuel prices is not unique to Kolkata, but is being witnessed across the country. As of April 12, 2021, the price of petrol in Delhi was Rs 90.83 per litre, while diesel was priced at Rs 81.32 per litre. Mumbai and Chennai also recorded petrol prices above Rs 96 per litre. This trend is likely to continue in the near future, unless there is a significant change in the global oil market.
Will Kolkata Fuel Prices Continue to Rise?
It is difficult to predict whether fuel prices in Kolkata will continue to rise or stabilize in the near future. The price of crude oil is influenced by a variety of factors, many of which are beyond the control of local authorities. However, there is a need for the government to take measures to reduce the burden of high fuel prices on citizens and businesses.
How to Cope with Kolkata’s High Fuel Prices
Given the current situation, Kolkata residents and businesses need to find ways to cope with the high fuel prices. This could include using public transportation, carpooling, or adopting fuel-efficient vehicles. It is also important for the government to explore alternative sources of energy and promote sustainable transportation options.
Kolkata Citizens Demand Action on High Fuel Prices
The surge in fuel prices has led to widespread concern and frustration among Kolkata citizens. Many are demanding immediate action from the government to reduce fuel taxes and provide relief to those affected by the price hike. It remains to be seen whether the government will respond to these demands and take concrete steps to address the issue.
The surge in fuel prices in Kolkata is a major concern for both residents and businesses. It has highlighted the need for more sustainable and affordable transportation options, as well as a more proactive approach to energy and tax policies. While there are no easy solutions to the issue, it is crucial for the government and citizens to work together to find ways to mitigate the impact of high fuel prices on the city’s economy and daily life.