Fourth fuel price hike in 11 days stretches household budgets

Kolkata: A relentless streak of fuel price hikes has pushed Kolkata's household budgets to breaking point, sparking a cascading wave of inflation across local markets. Following the fourth consecutive price increase on Monday, petrol in the city surged to Rs 113.51 per litre while diesel crept closer to the century mark at Rs 99.82 per litre.Over the last 11 days, fuel prices have shot up by over Rs 7 across the country. The shockwave from the pumps instantly rippled into local markets, driving up cost of groceries and daily commute.Because Bengal relies entirely on diesel-powered trucks to transport food from rural mandis (wholesale markets), wholesale vegetable prices have jumped by 10%-12%."My monthly kitchen budget has gone haywire. Potatoes suddenly cost Rs 32 a kg and mustard oil has touched Rs 200 a litre. Even the prices of milk and bread have gone up. The govt tells us to manage, but you cannot always control hunger," said Sunita Das, a homemaker from Garia."My daily car ride to office costs Rs 113 a litre for petrol. I am now thinking of selling off my car. My kids' school transport has also got expensive," said Rajesh Sharma, a bank employee from south Kolkata.Retail market experts warned the pain is far from over. "The impact on perishables is immediate. It's a double whammy for fish and meat sellers. Not only has the diesel for transport spiked, but the cost of the ice blocks needed to preserve the stock has also shot up. Traders have no choice but to pass these overhead costs onto the end consumer," said S K Mitra, a wholesale trader at Maniktala market.While Indian Oil Corporation clarified there is no structural shortage of fuel and termed the local price imbalances "temporary", Kolkata's households are bracing for an expensive season with severely dented savings.