Fuel price hike tomorrow ?

The government is likely to take a decision on Friday on raising fuel prices and compensation package for the oil PSUs, Petroleum Minister Murli Deora said today.

Petroleum Minister Murli Deora who met the Prime Minister today informed sources that there is no question of fuel rationing and the left and UPA are on board with the decision.

He also said that the Finance Minister may agree to cuts in customs and excise duties for lessening the impact of price hike.

Mr Deora defending his stand on price hike said that the UPA has subsidised the hike by Rs 2.22 lakh crore.

The Petroleum Ministry is seeking a hike in petrol, diesel and LPG prices together with reduction in excise duties.