Election season is here, so is a freeze on petrol and diesel price hike

With assembly elections in four states and one UT around the corner, the prices of petrol and diesel have stopped fluctuating.

The rising petrol and diesel prices in India have stopped fluctuating ahead of assembly elections in four states and one Union territory. Fuel prices were frozen on February 27, exactly a month before polling begins on March 27. Petrol price in Kolkata was Rs 91.34 a litre on February 27 and it has hovered at the same level on March 9 as well. The corresponding prices for Chennai and Delhi are Rs 93.1 and Rs 91.17. Union petroleum minister Dharmendra Pradhan said in Parliament on Monday, March 8, that prices of petrol and diesel have been made market-determined, and thus, public sector oil marketing companies (OMCs) take appropriate decision on pricing. They factor in international product prices, exchange rate, tax structure, inland freight and other cost elements, he added.