National Conference denounces fuel price hike

Srinagar: National Conference (NC) Wednesday expressed concern over the hike in fuel prices of petrol, diesel and cooking gas cylinders pointing out that the move would badly affect the poor and middle class.

A statement of NC issued here quoted the NC’s additional spokeswoman Sarah Hayat Shah as saying that the hike in fuel prices was bound to have a cascading affect on others sectors of the economy.

“Any fluctuation in the prices of petrol and diesel impacts the production and transportation cost of various items including edibles, and vegetables,” she said expressing dismay over the failure of New Delhi to keep the prices stable. “Petroleum products are used as raw materials in various sectors and industries such as transport and petrochemicals. Historically, the price of petrol and diesel in the country was regulated. The government was involved in deciding the retail price. The deregulation of the pricing by the government in 2010, and 2014 has left it to the mercy of oil marketing companies to determine the price of these products. The inordinate price hike will also affect the ensuring agricultural activity.”