The two political formations who came together after the Left parties snapped their relations with the UPA over Indo-US civilian nuclear deal said in a joint statement that Manmohan Singh government is refusing to reduce the prices of petrol and diesel despite the steady fall in the international oil prices.

The statement, signed among others by Communist Party of India-Marxist(CPI-M) general secretary Prakash Karat, JD-S's H.D. Deve Gowda, TDP's N Chandrababu Naidu and Communist Party of India's A.B. Bardhan, said that protest demonstrations would be organized in all parts of the country on December 2.

The parties accused Manmohan Singh government of adopting a callous stand by refusing to cut the prices of petrol and diesel and providing relief to the people who are suffering from the all round price rise of essential commodities. Reduction of petroleum prices will have a beneficial effect on the economy and bring down prices of all other commodities.

The the opposing parties said that international oil prices have fallen below $50 per barrel in the past week. The administered prices of petrol and diesel were increased in June 2008 by Rs.5 and Rs.3 per litre of petrol and diesel when the international oil prices had reached a level of $123 per barrel. They argued that there was no justification for refusing to make a substantial cut in the prices of petrol and diesel when the government itself has admitted that the administered prices of petrol and diesel were based upon an Indian basket calculated at $67 a barrel.#