Hike in Petrol and Diesel Prices Again

The Indian government may consider a marginal hike in petrol and diesel prices with a simultaneous reduction in excise duty. So let's see what will be the actual extra money going out from consumer's pocket. The group of ministers (GoM) may recommend an upward revision of auto fuel prices.

The measure reason to hike the prices, would come as a major relief to the public sector oil marketing companies (OMCs), which are losing about Rs 240 crore every day on selling petrol and diesel below cost.