The governments decison on hike in petrol and diesel prices has been seen as a unavoidable necessity in an effort to curb losses of public sector oil companies in view with the rise in international fuel prices.
Government has today announced that the price of petrol and diesel would be increased by Rs 2 a liter and Re 1 per liter respectively. The new fuel prices will come into effect from Thursday midnight.
Describing the latest hike in the fuel prices as marginal, Prime Minister Manmohan Singh said:" You have to look at the country's interest." "If you go on subsidising, the fiscal system will collapse," he said.
--MP
