Petrol price hiked by Rs 5, diesel by Rs 3; LPG to cost Rs 50 more
New Delhi, June 04: The Central government on Wednesday announced a steep hike in domestic fuel prices, effective midnight tonight. The price of petrol has been hiked by Rs 5 per litre, while the price of diesel has gone up by Rs 3. The domestic LPG will now cost Rs 50 more per cylinder. The price of kerosene oil, meanwhile, has been left untouched. The announcement with regard to the revision of fuel prices was made by Petroleum Minister Murli Deora at a press conference.
Earlier in the day, the Cabinet Committee on Parliamentary Affairs met to discuss the surging global oil prices and approved the hike in domestic fuel prices. The government said the hike will push inflation up by 0.5%.
Prime Minister Manmohan Singh will address the nation at 8:30 pm tonight to explain why his government has raised the fuel prices. The Left parties, meanwhile, have announced week-long nationwide protest against the hike beginning tomorrow.
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