Scrap fuel price deregulation, demands CPI-M

New Delhi, Oct 18 (IANS) The Communist Party of India-Marxist (CPI-M) Monday asked the central government to scrap deregulation in petrol pricing, after public sector oil companies increased prices twice in the past three weeks.

‘By deregulating petrol pricing, the government has opened the way for successive hikes in prices,’ the CPI-M politburo said.

‘The public sector oil companies have increased the price of petrol by 70 to 72 paise per litre. This follows an increase of 27 paise per litre in September. The price of petrol has already been increased by Re.1 per litre in the space of three weeks,’ the politburo said in a statement here.

The CPI-M said the rise in petrol prices will further add to inflation.

‘The people who are suffering from continuous food inflation will be more burdened. There is no transparency in the decision making,’ it added.

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