Marginal hike in petrol, diesel prices on the cards!

NEW DELHI: As per the expectations, the Centre government is thinking over to hike the petrol and diesel prices due to an immediate fall out of the firming international oil prices.

The government may increase the prices of petrol by Rs 2 per lirtre and diesel by Rs 1 per litre. The State-run fuel retailers are losing about Rs 135 crore per day on sale of petrol, diesel, LPG and kerosene and the government is looking at proposals to make up for these losses, a senior official said.
 
“Equitable burden sharing principal would entail consumers having to bear marginal increase in fuel prices while the rest of the losses would be made up by issue of oil bonds and upstream assistance,” he said. It may be noted that the government announced a slash of Rs 5 before Lok Sabha election this year.