Tamil Nadu Chief Minister Jayalalithaa on Wednesday demanded rollback of the latest hike in petrol and diesel prices, saying it would lead to increase in prices of essential commodities.
“I have pointed out many times that the Price Fixation Policy followed by Oil Marketing companies is wrong. The price of petrol and diesel has now been increased based on this wrong policy,” she said in a statement.
The bi-monthly determination of fuel price based on the Rupee-US Dollar exchange rate was “not the right policy”, she said pointing to the petrol price hike by Rs 2.57 a litre and diesel by Rs 2.35 per litre.
“Due to the hike in petrol and diesel prices, freight charges will increase and the prices of essential commodities will go up, affecting the ordinary people. I urge, the hike announced by the Oil Marketing companies should be withdrawn,” she said.
Since November 2014, against the backdrop of the Centre increasing the excise duty of petrol by Rs 11.77 and diesel Rs 13.57, the present hike was not correct, she said.