Petrol and diesel prices were hiked by 80 paise a litre each for the second day in a row on Wednesday. Petrol price in Delhi has gone up to Rs 97.01 per litre as against Rs 96.21. Diesel prices has increased from Rs 87.47 per litre to Rs 88.27, according to a price notification of state fuel retailers. Rates differ from state to state depending on the incidence of local taxes. A record 137-day hiatus in rate revision ended on March 22 with an 80 paise per litre increase in rates. Prices had been on a freeze since November 4 ahead of the assembly elections in states like Uttar Pradesh and Punjab – a period during which the cost of crude oil soared by $30 per barrel. The rate revision was expected soon after assembly elections ended on March 10 but it was put off. In this episode of the Editorial, our managing Editor Mr Sujit Nair shares his take on the matter.
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