Petrol and diesel prices were on Tuesday hiked by 80 paise a litre.
In a jibe at the BJP-led union government over hike in fuel prices, Nationalist Congress Party MP Supriya Sule today said that only elections keep prices in check.
"Only elections are stopping the fuel price hike. Let there be elections every month so that the petrol, diesel and LPG prices don't get hiked," she said in the Lok Sabha.
Opposition parties had on Tuesday staged a walkout from the Lok Sabha in protest against the recent hike in fuel and cooking gas prices. Members of Congress, Trinamool Congress, DMK, NCP and Left parties raised slogans against the move and walked out of the lower house demanding a rollback.
There was widespread speculation of the price hike once the election results were declared for Uttar Pradesh, Uttarakhand, Punjab, Goa and Manipur as the Centre had steered clear of hiking prices during election season even when crude oil prices went up constantly in the international market.
Petrol and diesel prices were on Tuesday hiked by 80 paise a litre while domestic cooking gas prices were increased by Rs 50 per cylinder, ending an over four-and-half month election-related hiatus in rate revision.
India imports about 85 per cent of its oil needs, making it the world's third-biggest oil importer and consumer. The country's local petrol and diesel prices are linked to the international costs of the two fuels, which move proportionally to crude prices.
The benchmark Brent crude oil prices have risen sharply to nearly $120 per barrel on the escalation in the Russia-Ukraine conflict and have put pressure on state fuel companies to increase the retail prices.