Petrol, diesel prices hiked for 12th time in two weeks

Fuel prices were hiked for the 12th time in two weeks on Monday.

With the increase, petrol now costs Rs 103.81 per litre in Delhi and diesel Rs 95.07 a litre, up by 40 paise each, reported ANI. Petrol is priced at Rs 118.83 per litre in Mumbai after its rate was increased by 42 paise, and diesel costs Rs 103.07 following a 43-paise hike.

In Chennai, the prices of petrol and diesel were increased to Rs 109.34 and Rs 99.42 per litre after an increase of 38 paise each. In Kolkata, the price of petrol went up by 42 paise to Rs 113.45 per litre and diesel by 40 paise to Rs 98.22 a litre.

The revision in fuel prices resumed on March 22, twelve days after Assembly elections results were announced for Uttarakhand, Uttar Pradesh, Manipur, Goa and Punjab.

Ahead of the Assembly polls in five states, fuel rates had been on a freeze since November 4. However, during this period, the cost of crude oil surged by nearly $30 per barrel. Oil firms had not revised fuel prices for 137 days despite the substantial increase in global oil prices.

On March 8, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri had denied that oil price hikes had been stalled due to Assembly elections in the states of Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa.

While fuel prices in India are regulated by oil marketing companies, it has often been observed that the rates remain unchanged during elections and are hiked after the results are announced.

For 18 days in March and April last year, the prices of petrol and diesel remained unchanged as four states and a Union Territory went to polls. However, after the results were announced on May 2, the prices rose steadily to hit record levels.

Pradhan Mantri Jan Dhan Loot Yojana: Rahul Gandhi

Congress leader Rahul Gandhi on Monday reacted to the rising prices of fuel, and called it the “Pradhan Mantri Jan Dhan Loot Yojana”.

Congress chief spokesperson Randeep Surjewala called it “the new installation of fuel loot”.

Rajya Sabha proceedings disrupted

Meanwhile, Rajya Sabha proceedings were adjourned on Monday, following protests by Opposition parties over fuel prices, PTI reported.

Opposition members had submitted a notice to discuss the surge in fuel prices, but they said that Chairman M Venkaiah Naidu had not accepted their demand, PTI reported.

After two adjournments, the House resumed proceedings at 2 pm. But Opposition parties again broached the subject and demanded a discussion on rising fuel prices, PTI reported.

After some of them entered the well of the House, Sasmit Patra, who was sitting in the Chair, adjourned the session for a day.