Hike-hit vehicle owners in City try to stock up on petrol

Hike-hit vehicle owners in City try to stock up on petrol

Motorcyclists queue up at a petrol bunk on Residency Road after the hike in petrol price on Saturday. dh PhotoMihir, a businessman, said: “I don't think the government is to blame. The hike was anticipated. I think if citizens pay their taxes on time it would enable the goverment to subsidise in other areas.”

However many disagree with Mihir. Mansoor, a marketing manager, said: “The petrol prices only rise. We need some intervention from the government.  I still prefer a petrol car to a diesel one as the maintenance is lower. I have to somehow weather this rise in prices. Is there any other option than to grin and bear it ?”

Many like Mansoor are resigned to their fate. Rakesh, an MBA student, said: “As a student, this comes as a major blow. I will have to watch my expenditure carefully.

Petrol prices cannot decrease. May be some good will come out of this if people switch to using public transport. I hope that Metro is a saving grace.”

Bipin, a software engineer, added: “It’s only natural that prices will rise if we continue to burn fuel the way we are doing now.”

Entrepreneurs will also be affected by the price hike. Thomas, who co-owns a company, said: “The petrol hike is going to hit our bottomline. Our cost of reimbursement will definitely see an increase by 10 per cent. Most clients insulate themselves by insisting on a rate contract on delivered costs.

This means that the manufacturer has to bear the burden of the hike. Also price of raw materials will increase due to increasing transportation costs. Plastic, a petroleum derivative, will also see an increase in price, and this will affect my company quite seriously.”