Bus, car operators call for middle path amid rising fuel prices

Mumbai Jan 15 ( PTI) Bus and cabs operators on Monday called for a "middle path" on the fuel price hike, saying that every day increase in prices will result in travel cost shooting up and they will have to pass on the hike to passengers.

Mumbai  Jan 15 ( PTI) Bus and cabs operators on Monday called for a "middle path" on the fuel price hike, saying that every day increase in prices will result in travel cost shooting up and they will have to pass on the hike to passengers. Petrol price on Monday was hiked by 48 paise per litre and diesel by 23 paise a litre as oil companies for the ninth day in a row adjusted retail rates in line with costs since ending an 82-day hiatus in rate revision.

Petrol price in Delhi was hiked to Rs 76.26 per litre from Rs 75.78, while diesel rates were increased to Rs 74.26 a litre from Rs 74.03, according to a price notification of state oil marketing companies. Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

In nine hikes, petrol price has gone up by Rs 5 per litre and diesel by Rs 4.87 a litre. "Fuel prices have been going up on a daily basis, this being the 9th consecutive day of hike by OMCs. This will have a debilitating effect on public transport sector which is already under severe duress due to policy apathy," Bus and Car Operators of India President Prasannaatwardhan said in a statement.

"These hikes will force operators to pass on the hike to passengers, sending ticket prices through the roof. It will have a cascading effect on overall health of the economy," he said. The Confederation in the statement also said that the government needs to step in and find a "middle path" so that both the operators and commuters can "co-exist" without undue financial burden on either of them.