Thiruvananthapuram : In a sharp hike, the oil companies of Friday raised diesel price by Rs 6.73 all at once for bulk purchasers that include state transporter KSRTC. Centre’s move of this kind will plunge the KSRTC into acute crisis. Bulk purchases are classified as parties that buy over 50,000 litres per day. The categorised hike is set to impact power plants and varied business firms.
With Assembly elections across five states, a general hike of fuel price could potentially boomerang, hence the Centre’s classified hike at a steep rate to rake up intended profits.
The new rate is Rs 98.15 for a litre of diesel for bulk purchasers. This plunder comes even as diesel sells at private pumps for Rs 91.42.
Traditionally, fuel is sold to bulk purchasers at a discounted rate. Such price is revised every 15 days. On Wednesday, the revisal process passed off handing a whopping hike baffling the bulk purchasing category.
Since the the pandemic, public transporters countrywide are grappling with losses owing to reduced travelers. The curent targeted rise will push many a transporter to the brink of collapse.
