A hike of Rs 5 per litre in petrol price is likely to be announced in the next 24 to 48 hours. According to official sources, the Oil Ministry may allow the oil manufacturing companies to announce the hike.
State-owned oil marketing companies, reeling under crippling losses, are likely to announce a Rs. 5 hike—one of the steepest increases—in petrol prices next week.
No plan to hike fuel prices as of now: Govt The Government said it has not taken any call on hiking the fuel prices, including petrol, as has been reported in some section of the press in the past couple of days.
The government may hike petrol, diesel, cooking gas (LPG) and kerosene prices simultaneously as early as next week, with Oil Minister S Jaipal Reddy today saying "difficult and painful" decisions need to be taken.
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