Cabinet to take decision on Petrol price hike on Friday

This Friday the cabinet ministers meeting will finalize the decision on fuel price hike proposal in India. The price of petrol is likely to be raised and people need to pay more for the patrol. It is believed that the government may consider to hike the petrol price in India.

Petroleum Minister Murli Deora has appealed state governments to lower sales tax on petrol. Any hike in the petrol price would have negative impact on the market and products. The price of petrol has been raised twice by the UPA government and now the third hike is likely to be declared this Friday.

In Delhi and Mumbai, people are ought to pay more the auto and taxis as auto fares have gone up. The rise in auto and petrol prices will cost more to the people and the household budget would not be enough to meet the soaring prices, inflation in the current scenario.