» Petrol prices to be hiked by Rs 5 in a day or two
Petrol prices to be hiked by Rs 5 in a day or two
06 Sep, 2012 11:37p.m.
A hike of Rs 5 per litre in petrol price is likely to be announced in the next 24 to 48 hours. Oil companies have got the go-ahead from the government to increase prices after the Parliament session.
According to Oil Ministry sources, the Prime Minister's Office (PMO) and the Finance Ministry are on board for the price hike.
Sources also said that though the Cabinet note on the same is ready, it is yet to be circulated.
It is also likely that the Oil Ministry will ask the Cabinet to support a steep hike in the prices of diesel and kerosene, said sources.
UPA ally Trinamool Congress has said it will oppose any hike in fuel price.
Meanwhile replying to a query on prices of petrol and diesel are costlier in India in comparison to other countries, Minister of State for Petroleum & Natural Gas, RPN Singh said that while the price of petrol in India is comparable to many of the countries, the price of diesel is lower in comparison to the neighbouring and European countries.
Petrol is costlier in India by 18 rupees compared to the US. Its also on the higher side compared to our neighbors Pakistan and Sri Lanka
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