People's Democracy

Further Reduce Petro Prices

The Polit Bureau of the Communist Party of India (Marxist) issued the following statement on January 11, 2006

WITH a further fall in the international prices of crude oil to around 52 dollars a barrel, it is incumbent on the central government to immediately reduce the price of petroleum products to the pre-June 2006 levels as the first step. Subsequently the government should make a further proportionate reduction in the prices commensurate with the fall in international prices. The CPI(M) also reiterates its demand to restructure the taxes and duties on petroleum products to ensure that the volatility of international crude prices does not burden the consumer. The urgency to bring down the prices and restructure the tax-duty regime is dictated by the rising rates of inflation affecting the prices of all essential commodities. (INN)