Scrap deregulation in petrol pricing: CPI-M

The Polit Bureau of the Communist Party of India (Marxist) (CPI-M) on Monday called upon the Congress-led UPA government to ?scrap? deregulation of petrol pricing.

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

?The CPI(M) strongly opposes this recurrent increase in the prices of petrol. By deregulating the petrol pricing, the government has opened the way for successive hikes in petrol prices.

?The rise in petrol prices will further fuel inflation. The people who are suffering from continuous food inflation will be more burdened. There is no transparency in the pricing decision making.?

?The Polit Bureau calls upon the government to scrap the deregulation in petrol pricing,? the statement added.