Jammu, May 24: Cutting across party lines, leaders from different political parties today came out against the steep increase in petrol prices and demanded an immediate roll-back.
 The BJP took out a protest march in the city with district president Rajesh Gupta riding on a horse cart. "The way the price has been hiked, the day is not far away when the people will have to discard their vehicles and use horse-carts for conveyance," he said.
 The party flayed the central government for steep increase in the petrol price and blamed the wrong policies implemented by the UPA for the hike.
 Rajesh Gupta while criticizing the Congress-led UPA for the unprecedented hike in the price of petrol said that the move will make survival of common man difficult.
 Among others who participated in the protest demonstration included Suresh Jamwal, Jaideep Sharma, Vinay Gupta, Karan Singh, Sanjay Baru, Sureshta Jamwal, Vikram Randhawa, Dinesh Gupta and Balwan Singh.
 Youth wing of People Democratic Party also held protest demonstration against the price hike at Press Club. The protest was led by its district vice president Vikram Singh.
 Addressing media persons on the occasion, Singh said the hike of Rs 7.50 would affect the poor and middle class.
 Singh said in the last eight years of the Congress led UPA government; it has increased petrol prices 26 times consequently rising in prices of essential commodities.
 Shiv Sena Bala Sahib Thackrey led by President Ashok Gupta also staged protest demonstration against the fuel price hike at Rani Park Jammu.
 A number of people, traders, and the activists under the banner of Jammu West Assembly Movement took out a massive "Vishal Protest Rally" and "Shav Yatra" of the Congress led central UPA government.
 The protest was led by its president Sunil Dimple demanding resignation of Prime Minister Dr Manmohan Singh for being failed to control the inflation in the country.
 The CPI (M) also came out against the fuel price hike and said it will have a cascading effect on the commodity market, which will put an additional burden on the country's population.
 A meeting of Jammu Regional Committee of CPI (M) was held in its office chamber under the chairmanship of comrade Sham Prasad Kesar its Secretary.
 The committee condemned the steep price hike of petrol and demanded its rollback. “It is a cruel blow on people who are already suffering from severe price rise”, the participants observed.

EGoM meet on revising diesel, LPG rates soon
AFTER a steep Rs 7.54 a litre hike in petrol prices, a high powered ministerial panel headed by Finance Minister Pranab Mukherjee may meet soon to decide on revising diesel, cooking gas LPG and possibly also kerosene rates. The Empowered Group of Ministers (EGoM) has not met in almost a year even though depreciation in rupee and rise in international oil prices raised cost of imports. Sources said the panel may meet as early as tomorrow but a top Oil Ministry official stated no meeting has been scheduled as yet.

Oilcos hint at rate cut  next month
CLOSE on heels of the steepest ever hike, petrol prices may be cut by Rs 1.50-1.80 early next month if current trend of softening in international oil prices continues, oil companies indicated today.
 Worried over the political backlash, the government fielded chief executives of the state-owned oil companies to explain the compulsions that led to the Rs 7.54 a litre increase in petrol price, the third in a year but the first in almost seven months.
 "Current trend (in international prices) indicates that prices (of petrol) can come down," IOC Chairman R S Butola told reporters here.
 Oil companies revise petrol prices on 1st and 16th of every month on the basis of average international oil price and the foreign exchange rate in the previous fortnight.
 Gasoline price, against which petrol price has been benchmarked, has come down from USD 124 per barrel (that was taken into account for the hike implemented from today) to USD 117 a barrel.

Lastupdate on : Thu, 24 May 2012 21:30:00 Makkah time
Lastupdate on : Thu, 24 May 2012 18:30:00 GMT
Lastupdate on : Fri, 25 May 2012 00:00:00 IST