Fuel price hike leading citizens to rework budgets

Unrelenting gas price rise in Hyderabad has pressured citizens to rework budgets and lower down on bills. On Thursday, the sixth day in 10 days of price hike, petrol retailed at ₹112.66 paise within the metropolis. A day earlier it was ₹112.29. “Do something so that this price spiral stops,” stated a motor mechanic filling up gas at an outlet in Rethi Bowli space.

“I am spending nearly ₹200 more per day. Two months earlier, I used to fill diesel for ₹400 and by the end of the day my earnings would be ₹1,200. But now, I spend ₹600 on diesel and my earnings are the same,” stated Lakshmi Sagar, who lives within the Aramghar space and drives a employed autorickshaw for residing.

Workers within the excessive mobility gig economic system have been the worst-affected due to the gas price hike. “This is a back-breaking price hike. Three months back, I used to spend ₹15,000 per month on diesel. Now, I am spending ₹22,000. Many families had to change houses due to the dip in earnings,” says Shaik Salauddin, who drives a diesel cab for residing. “None of the online platforms have increased the base price to match with the fuel price rise. The companies make the same money but our take home has declined,” he says.

Motorists get to see new price day by day. Over the previous 28 days in October, diesel costs have surged by 7.04% and petrol costs have surged by 5.89% in Hyderabad. “When petrol was ₹70, we got ₹6/km. Now, petrol is ₹110, still we are getting ₹6/km. Is this fair? Please increase the payout,” tweeted a meals supply government within the metropolis.

“Earlier, we used to spend ₹250-300 per day. Now, ₹400-500. When fuel prices were low we used to get return orders to our zones but now no return orders affecting our earnings. Instead of compensating for the price hike, Swiggy is giving us 10% extra on daily incentives, which is useless,” he says. For the file, petrol was ₹72.93 in 2017, and ₹82 in 2018. It breached the ₹100 mark on June 14, 2021, and has been on an upswing since then.

“The price at fuel outlets changes at 6 a.m. when we get the notifications. Pre-pandemic, we used to sell 11,000 litres of fuel per day. Now, we sell 8,000 litres,” says the proprietor of an Indian Oil gas outlet in Somajiguda.

Out of the ₹112.66 price, the Telangana authorities will get ₹29.33 as VAT. A serious chunk of the taxes on gas goes to the Centre. “Out of ₹32.90 central excise duty, ₹31.50 is collected in the form of cess and surcharges, which is not shared with states. Only ₹1.40 goes into divisible pool out of which 41% is shared with all states,” informs Rakesh Dubbudu, primarily based on info from Petroleum Planning & Analysis Cell in addition to Finance Commission suggestions.

The cess collected by Centre contains Special Additional Excise Duty (SAED), Additional Excise Duty (Road & Infrastructure) (AED), and Agriculture & Infrastructure Development Cess (AIDC) per litre. The final cess was launched within the 21-22 price range.

Serish Nanisetti , 2021-10-28 19:32:40

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