The finance minister of India, Pranab Mukherjee has indicated the petrol price may fall further in the coming period of time as the crude oil prices fall in the international market.
Earlier, the UPA government and Oil companies has announced a hike of Rs 7.54 per liter in petrol price in the country on 24 May.
This was the highest growth in the petrol in recent past, however, the central government cut petrol prices by Rs 2.02 per liter last week. Read more
Time is not good for UPA government as after the Trinamool Congress Chief Mamata Banerjee’s protest on the issue of hike petrol price, next hit by a key rally The Dravida Munnetra Kazhagam party.
Threatening UPA to quit as nine years old key ally, DMK former Tamil Nadu chief minister, M Karunanidhi on Wednesday warned that, the party had never hesitated to pull out so earlier unless the “atrocious” petrol price hike was not completely rollback. Read more
From Wednesday midnight, states owned oil companies hiked petrol price by Rs. 7.50 plus local taxes – the biggest hit of past10 years, opposing the hike prices, NDA called a nation-wide bandh on May 31.
Threatening the government to go with a huge agitation national strike, opposition asked to roll back the hike amid fears that LPG and diesel prices will go up next. Read more
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