Petrol prices were hiked — once again — across the country today marking the 16th such rise in the last 16 days.

Petrol prices went up by around 15 paise; rates in metro cities now are Rs 78.43 (Delhi), Rs 81. 06 (Kolkata), Rs 86.24 (Mumbai) and Rs 81.43 (Chennai), according to the Indian Oil Corporation (prices at bunks of other fuel companies may vary by a few paise).

Petrol and diesel prices have been on an upward climb since May 14, when a mysterious three-week freeze in the daily revision of fuel rates was lifted.

Oil companies, all of whom carry out daily revision of fuel prices, provided no explanation for why petrol and diesel prices rates were not revised even once between April 24 and May 13.

However, the companies’ mysterious inaction was linked in some quarters to the Karnataka election, voting in which took place on May 12. Two days after voting, fuel prices were back to being revised daily.

Since May 13 (the last day of the unofficial ‘freeze’ on daily revisions), petrol prices have risen by almost Rs 4 across the country. Diesel prices, during the same period, have rise by around Rs 3.3.

Today’s diesel prices in metro cities, at IOC bunks, are: Rs 69.31 (Delhi), Rs 71.86 (Kolkata), Rs 73.79 (Mumbai) and Rs 73.18 (Chennai).

PETROL POLITICS

The daily rise in fuel prices has become a political issue with the Opposition using it to criticise the Narendra Modi government at the Centre.

The government, for its part, has pointed out that both states and Centre tax petrol and that a group of central ministers is working on a ‘long-term’ solution to bring fuel prices in check.

The government has also indicated that it wants to bring petrol and diesel under the ambit of the Goods and Services Tax regime.

This, some believe, would help reduce the burden on the consumer as it would do with the current double taxation (central + state) seen on fuel.