Almost one week after the UPA Government announced the Rs 7.50 per liter hike in petrol price, petrol will now cost Rs2 per liter cheaper. New Petrol price will be affective from the midnight today.
Meanwhile, state-based oil companies will cut petrol price by Rs 1.68 per litre, excluding taxes. After including 20 per cent VAT on petrol, the reduced in Delhi comes to Rs 2 per litre.
The hike of Petrol prices upto Rs 7.50 per litre last week, moved in a nationalwide strike, called by the NDA, Left parties and many key allies of the UPA on Thursday, hitting worse the transport routes.
The government still with its node not to reduce the hike as long as opposition pressure, but source said that there is more chances to reduce petrol price by Rs 1.50-1.60 a litre by the oil companies on Friday, or may be in the middle of next week.
Amid an uproar over Opposition demand to roll back the petrol price, the government clearly said “No” even for now days. It said that the decision to roll back on increased process will be discussed after reviewing the situation for a few days.
Questioning from Oil Minister S Jaipal Reddy about the concerns of the common-man, he told reporters, “The government cannot remain indifferent to the people’s feelings,” the decision to hike petrol price was taken by the oil companies, but the government is conscious of the “sense of disturbance” among people.
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.
Threatening the effect of Inflation rate, the Oil companies have hiked petrol prices by Rs 7.50 per litre and its effect has to seen from Wednesday midnight.
State-owned oil firms, those earlier asked govt. for giving consultation to bear the past huge loses, raised the petrol price by Rs 6.28 per litre excluding local sales tax or VAT, while in Delhi the hike price is gone upto Rs 7.50 per litre adding 20 per cent VAT,, being applied all nearby states such as Punjab, Haryana, UP and other.
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