Daily fuel price change will hurt people: V Narayanasamy

Puducherry: Criticising the decision of changing the fuel price on regular basis from May 1, Chief Minister V Narayanasamy on Wednesday said the new decision will create chaos among people. “The decision of oil companies would create difficulties for common people. The price of crude oil does not change daily. So the companies should follow the same method we are following now to revise petrol rates,” he told newspersons here.

The Chief Minister said that he would meet the union ministers requesting to revise the decision. Puducherry is selected as one among the five cities where petrol and diesel prices will change on daily basis in keeping with international rates from May 1. Major oil companies such as Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) would launch pilot project in these cities.

J. Sekar, president of Petrol Bunk Owners Association in Puducherry,  is hopeful that the new initiative would be beneficial in the long term. “Private petrol pumps are already selling the oil sync with international rates. So the rates will be comparatively low there and this might be the reason for the state controlled oil companies to take such a decision. This is a pilot program and we will be able to understand the aftereffects only after it is implemented,” he said. “We are hopeful that the decision would be helpful. Petrol companies should support pump owners if some initial loss comes,” he told Deccan Chronicle.