With the resumption of dynamic pricing system for transport fuels on Monday by the Indian Oil Corporation (IOC), petrol prices in the national capital shot up to Rs 74.80 per litre. Opposition slammed this price rise as “poll-politics”.
The IOC had suspended dynamic pricing system for transport fuels for 19 days to “avoid creating unnecessary panic among the consumers”. However, most observers said that the suspension had been done because of impending Karnataka elections.
Congress President Rahul Gandhi tweeted on Monday: “Karnataka finishes voting, Fuel prices rise to a 4 yr. high! The Key Principle of Modinomics: fool as many people as you can, as often as you can.”
In Delhi, petrol was priced at Rs 74.80 per litre on Monday, highest since September 2013, when it had hit Rs 76.06 a litre. The price was last changed on April 24 when it was at Rs 74.63 per litre.
In the other metropolitan cities of Kolkata, Mumbai and Chennai also petrol prices were at multi-year high levels of Rs 77.50, Rs 82.65 and Rs 77.61 a litre on Monday.
The previous highs in these cities were Rs 78.03 (Kolkata, August 2014), Rs 83.62 (Mumbai, September 2013) and Rs 77.48 (Chennai, September 2013).
Reacting to the price hike, former finance minister P. Chidambaram tweeted: “There we go again.
More taxes on petrol and diesel, more burden on the consumer. The Karnataka election was only an interval.”