Petrol, Diesel prices goes up
Government of India has announced a sharp increase in prices of petrol,diesel,lpg and kersone. No one is barred from common man to auto manufacturers are set to suffer. With the hike, price petrol is increased by Rs 3.73/litre, Diesel goes up by Rs 2, LPG by Rs 35 and kerosene by Rs 3/litre. The increase in price comes into effect immediately.
Also the government has decided to freed the prices of petrol and diesel from its control (which means it market driven from now onwards). This move is good for the Oil companies on the long run. At the same time as the inflation already hovering around 10%, it is surely a bad news for consumers. The demand for automobile may take a hit following the hike.
[Via: Vicky]
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