There are wide speculations across the country at the moment what’s the mystery behind the ‘abrupt’ halt of petrol, diesel and LPG prices that saw the Usain Bolt-like run over the past one and a half month. It’s understandable and going by the principle of ‘cause and effect’, it’s the polls in five states that can be arrived at as the one and only reason. It has always been a pressing compulsion in the country, not in ordinary times, but only in extraordinary times (read the onset of polls) and the entire country must be thankful to these five states for the respite, even though entirely ephemeral. The overwhelming importance the ‘compulsion’ has received can be gauged if one looks at the current international per barrel price of crude oil- $70 and with every chance of heading further northwards. But arguably, the citizens must be prepared for a new sprint as soon poll formalities get completed by the first week of May.

Exorbitant rise in prices of petrol and diesel since the beginning of the current year has driven the common people, who generally remain aloof in digging out the inner reasons for the after-effects of public policies, to change the norm. And from this ‘quest’ it’s the revelation that is widely available on the public domain now that the Central and State taxes are the principal contributors that make the final price at the fuel pumps at least 3-4 times the original import cost. While the direct relationship in terms of ups and downs in international oil prices with those in the country is now an unwritten law, it has mostly been a one-way traffic. As per oil price data, from January 2020 to January 2021, despite a 13 % drop in international crude rates (pandemic-induced slump in global economy the frontline cause), Indian citizens actually paid 13 % higher during the period. In terms of number of increases, in the current year itself, both petrol and diesel prices have increased 26 times. Now, a missile attack on a key Saudi Arabian export facility on Sunday last has sent Brent crude, the international benchmark above $70 a barrel for the first time since January 2020 sending jitters across the world and India. But for the assembly elections knocking at the doors, the ripples would have been felt by now. A divine intervention indeed! It’s a matter of fact that oil prices in India are among the highest in the world and more than 80% of the need has to be imported.

But unfortunately, the policy making process in the country has never given a serious thrust on seeking the alternatives, be it solar, hydro or others. Polls have effected a respite, but it’s purely temporary.