Jayalalithaa demands roll back of fuel price hike immediately

The AIADMK supremo said that the fuel price hike was unacceptable

Tamil Nadu Chief Minister J Jayalalithaa today demanded for an immediate roll back of petrol and diesel hike, which came into effect from Monday night.

In a statement, the AIADMK supremo said fuel price hike is "unacceptable" and it would lead to increase in the price of essential commodities.

She said the increase in the prices of petrol and diesel by Rs 2.19 and 98 paise per litre respectively since Monday was an outcome of a wrong fuel pricing mechanism.

"As I have told many times in the past, it is unjustifiable that the fuel prices are fixed based upon the fluctuation of Indian currency against US Dollar," said Jayalalithaa.

She also came heavily on Centre for increasing the excise duty on petrol from November 2014 by Rs 11.77 and Rs 13.57 in diesel till date.

"There may be fluctuation in the market when foreign companies take back Indian investments and private companies pay foreign loans in US dollar terms. For controlling the fluctuation, the setting up of a separate body or a fund will be an apt solution," said Jayalalithaa.

"Due to increase in fuel prices, prices of essential commodities and cargo will rise. It will affect the livelihood of the downtrodden. I urge roll back of fuel price increase by oil marketing companies," she said.