A BURNING ISSUE

At a time when Covid-19 has already taken a toll on thousands of lives and millions of livelihoods, there comes a new burden for consumers—soaring fuel prices. Over the past year, petrol prices in Delhi have risen nearly 24 per cent, with diesel prices rising 23 per cent. On February 22, petrol was priced at Rs 90.58 a litre in the capital, while diesel cost Rs 80.97. Rates were even higher in Mumbai, with petrol at Rs 97 a litre and diesel at Rs 88.06, both lifetime highs. In a few cities, such as Sri Ganganagar in Rajasthan and Anuppur in Madhya Pradesh, petrol has crossed the Rs 100 per litre mark.

Not only are high fuel prices burning a hole in consumers’ pockets, they are also threatening to stoke inflation via increased transportation costs. A further spike in inflation could potentially prevent