After weeks of deliberation, Petroleum Minister Deora on Wednesday announced that petrol prices will be hiked by Rs 5 per litre while diesel price will be raised by Rs 3 per litre. The Government also said that prices of LPG will be hiked by Rs 50. However, there will be no increase in kerosene prices, he added. Prime Minister Manmohan Singh will address the nation at 2030 hrs today to explain the rationale behind the hike.
The Centre is setting in motion, a process for the downward review of prices of petroleum products on Wednesday.
http://www.ibnlive.com/news/fuel-price-cut--on-sonias-order/27248-7.html
Government may consider a cut in petrol and diesel prices, if international oil prices continue to fall further.
http://www.ibnlive.com/news/government-mulls-petrol-price-cut/25556-7.html
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