Petrol may cost Rs 17 more!

posted by   rsk4you (207)   6 months ago (www.rediff.com)

The relentless rise in international oil prices that last week touched an all time high of $135 a barrel has forced the government to mull options to save state-run firms, which expect a revenue loss of Rs 200,000 crore (Rs 2000 billion) this fiscal on sale of petrol, diesel, domestic LPG and kerosene. "One of the options being considered is deregulating petrol prices," an official said. "The country's preferred auto fuel diesel will, however, continue to be subsidised even though a marginal Rs 2-3 a litre hike in prices may be announced."