The prices used to be revised on the 1st and 16th of every month. (Express photo)
FOR 10 consecutive days, the state-run oil companies have not revised fuel prices daily, giving the commuters a breather. But the rates are likely to rise once the Karnataka elections are over, officials said. “The rates for the past 10 days have remained unchanged,” said Ali Daruwalla, spokesperson of the All India Petrol Dealers’ Association (AIPDA).
“I was wondering why suddenly political parties, like the Congress and NCP, which were crying hoarse over rising fuel prices have gone silent. It is good that the fuel prices are not rising at a time everything seems to be becoming costly,” said Rohidas Rithe, a commuter.
From June last year, oil companies had been revising fuel prices daily. Earlier, the prices used to be revised on the 1st and 16th of every month. The revision is based on the average international price of fuel in the preceding fortnight and the currency exchange rate.
The “daily dynamic pricing” apparently came to a halt on April 26. The price of petrol has stood at Rs 83.33 per litre and diesel is at Rs 69 per litre in Pune city.
Although the oil companies have denied that they have received government directives to hold prices till the Karnataka elections, sources said once the polls are over, the revision would take place immediately. “It is obvious that the oil companies are acting under pressure from the government to hold their prices till the elections are over. After May 12, we will see a massive jump in prices,” said an oil company official.
Another official said that although there has been no specific directives from the government to hold the prices, oil companies, on their own, implement it as the election code of conduct comes into force.
“Neither the government nor the Election Commission have issued us a directive but the oil companies have done it on their own to honour the poll code of conduct,” said the official.
Officials said the crude oil price in the international market has not seen a major jump and therefore, the oil companies do not have to take additional burden as of now.