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Monday, August 22, 2005

Commentary: Fuel Price Hike Sparks Fresh Unrest in Nepal

Fuel price hike sparks fresh unrest in Nepal NewKerala.com
"The government headed by King Gyanendra last week approved an increase of Nepali Rs.5 per litre in kerosene, diesel, petrol and air transport fuel prices in a bid to bail out the Nepal Oil Corporation (NOC), the state-owned monopoly importer and distributor of petro-products... Fuel prices in Nepal remain lower than international prices, causing the state exchequer a loss of millions of rupees monthly on subsidies..."

What would happen if every time prices are raised at American gas pumps, people rioted in the streets, throwing rocks and other burning stuff?

This price increase in Nepal is the equivalent of a $0.27/gallon price increase. For sure, that is quite a big jump to happen overnight, but prices here in the US have risen about $0.90/gallon since January!

Are price increases in small increments easier to take? Or are some people in this world ungrateful for how good they have it, government fuel subsidies and all?

Labels: commentary