Nov. 3: Petrol prices have gone up for the fourth time this year, largely because of global factors but compounding the agony of a government that is battling a perception jinx.

State-run oil firms tonight raised petrol prices by over Rs 1.80 a litre following a steady slide in the value of the rupee in reaction to the global economic climate.

Petrol is the sole decontrolled fuel and the government technically has no say in its pricing. But the latest increase coincided with the announcement that food inflation has surged to a nine-month high of 12.21 per cent.

The unchecked flow of adverse figures and the sense of drift in the government were seized by the Opposition to paint the UPA as insensitive to the plight of ordinary people.

Key ally Mamata Banerjee, whose allergy to price increases is well known, has instructed Union minister Mukul Roy to convene an emergency meeting of all the party MPs tomorrow to decide the party’s stand. “Mamatadi has asked Mukul Roy to contact Pranab Mukherjee and express resentment on behalf of the party,” an MP said.

The Congress struck a note of regret on the price increase and asked the government to find “a way”. “We are very sorry. We understand the problems of the common man. The government will have to find a way,” Congress spokesperson Rashid Alvi said.

Petrol prices have increased periodically since they were deregulated in June last year. The rates have shot up by Rs 17.83 a litre from Rs 55.32 a litre (Calcutta) in June 2010.

Oil firms blamed crude oil prices and the depreciation of the rupee. “We are losing about Rs 1.5 per litre…. That is the position of oil marketing companies,” B. Mukherjee, finance director of HPCL, said.

Officials said the rupee had depreciated significantly since April, increasing the import cost of crude. India imports 80 per cent of its crude requirements. The rupee has depreciated from 44.60 to a dollar on March 31 to 49.19 on Wednesday. An official said: “For every rupee depreciation, the under-recovery increases by around Rs 9,000 crore.”

The price of the Indian basket of crude had moved up from an average $103.63 per barrel in the first fortnight of October to $108.59 in the second fortnight.

N. R. Bhanumurthy of the National Institute of Public Finance and Policy said that “the hike was expected and much needed for the health of the oil firms”.