Prices of petrol & diesel soaring

The prices of petrol and diesel are soaring making life miserable for the citizens. The costs of petrol and diesel have soared to record highs over the last 8 days. The diesel prices have touched an all-time high of 66 rupees 14 paise in the national capital. Petrol prices too hit a 56-month high of 74 rupees 80 paise a litre. The trend got worse after the Karnataka poll outcome. The state-owned oil companies had kept in abeyance daily revision in petrol and diesel prices since April 24, and once the poll results were out, the rates of these products were raised to a great extent.
So far, the current situation is this that, Brent crude oil has shoot up over $79 per barrel, and the Indian government has ruled out any relief by easing excise duty. Also, many states are reluctant to reduce the Value Added Tax and the rupee has been hovering near 68-mark against US benchmark dollar index. Oil companies cannot do anything about rising international crude oil prices. However government of India can ease pain by cutting excise duty. The states also can give further relief by reducing VAT. In most of the countries the government is taking measures to reduce burden on consumers. It is strange that Indian government is showing reluctance to cut excise duty. The increase in diesel price will lead to increase in prices of the essentials items and it will further hurt the citizens. Therefore government of India should take urgent steps to control the ever increasing prices of petrol and diesel.