It is shocking--price hike of petrol

From midnight yesterday, the price of petrol,has increased by 7.50 Rupees per liter.This is because the price of petrol is hereby deregulated. But this is coming at a time when the cost of crude has decreased. For the first two weeks of May, it was $124/barrel and two days ago it was $91/barrel.There is the sign of a mismanaged economy.Earlier,government was giving some subsidy for the buyers. It would give money to the oil companies as compensation,so that they can give petrol at a lower price than it is available in the market.Government would delay the compensation, and the oil companies had made big loans to manage costs.Now government will not be giving any more subsidies, because it cannot go on paying compensations.We have deregulated petrol, and the oil companies will charge the rate corresponding to the world market.May be the lapsed losses will be made up by overcharging the consumers.The price hike has   increased the anger of the people.We have to travel to go to work, we have to pay more for it now.And our commodities arrive at our markets by vehicles fueled by petrol--prices of everyday things will increase.Many parties of the UPA have demanded a rollback. And they are thinking why was this done as soon as the Parliament's session was over? Now we cannot protest? There will be protests over this.Already high inflation, falling rate of the Rupee against the dollar have created a flaming rage among the people, now this is going to add fuel to the flame.
Diesel, kerosene and cooling gas(LPG) will continue to receive government subsidies.From now on, there will be diesel vehicles plying the roads of India. We are so dependent on imports of this precious resource from bedrocks, that it is driving us wild.We cannot go back to horse driven carts, modernity has come to stay. We will be paying for it dearly.