Post-poll fuel rate hike shows pattern similar to that around 2021 elections

Guwahati: Days after the elections to Assam, West Bengal, Tamil Nadu, Kerala and Puducherry assemblies were completed, the petrol prices have surged by Rs 3 per litre, breaching the Rs 100 mark, while diesel rates also shot up by over Rs 3 per litre.

Similar was the trend following the 2021 elections to the above-mentioned states and UT.Moreover, the increase has come days after PM Narendra Modi urged citizens to conserve fuel by opting for public transport over private vehicles. The prices remained stagnant between Rs 93 to Rs 99 for the last one year, before the increase on Friday.There has been an increase of Rs 5.08 in petrol per liter in the last one year as petrol was sold at Rs 96.13 on May 15 last year in Guwahati, which stood at Rs 101.21 on Friday.Similarly, diesel was sold at Rs 88.41 on May 15 last year in Guwahati, which now stood at Rs 92.5. The rise in the prices in the last one year is Rs 4.09.As of today, after the price hike, petrol is costlier in Lakhimpur district in the state, where the product is being sold at Rs 103.24 per litre. On the other hand, the product is cheaper in Golaghat district where it is being currently sold at Rs 101.16 per litre.An Indian Oil Corporation Limited (IOCL) official said the prices of fuel vary from district to district and the factors behind that include the transportation cost, distance from the refineries to the supply locations and crude oil prices.

“However, the difference of fuel prices from district to district is minimal and it usually remains below one rupee. It may be over Rs 1 if we compare the prices of different states,” the official added.It is pertinent to mention that, Assam cabinet on Wednesday adopted certain austerity measures, including ban on purchase of new vehicles by any govt offices and ban on official foreign tours, at least for next six months.A similar price-hike trend was seen in 2021. Petrol and diesel prices, which remained unchanged after the election dates to the above-mentioned states and UT were announced, saw a surge soon after the elections were over.After the petrol price in Assam breached the Rs 100 mark in Nov 2021 after a hike, taking a cue from the Centre slashing the excise duty on petrol and diesel, the Himanta Biswa Sarma-led govt, which was serving the first years of its tenure, reduced VAT on petrol and diesel by Rs 7 per litre. This made petrol and diesel cheaper by Rs 7, following a Rs 5 and Rs 10 per litre cut in central excise duty, respectively. Assam first cut VAT on petrol and diesel by Rs 5 per litre shortly before the assembly-election dates were announced.After that Nov 2021 hike and VAT slash, the petrol price again breached the Rs 100 mark in March 2022.