Petrol, Diesel prices hiked

The Indian government has finally decided that the price of both Petrol and Diesel needs to be hiked to cut the losses at the oil companies.

The cabinet decided that the petrol would cost Rs. 2 more while diesel would be sold for Rs. 1 more.

Incidentally, this announcement comes just weeks before the end of the financial year. The extra money generated from this hike would help the oil companies recover from their losses.

The last time the prices of fuel were hiked was back in June 2006.

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