UPDATE: Partial rollback on the cards. Sources tell NDTV rollback of Rs 2 likely in petrol price hike announced.
Massive hike in #petrol prices is a prime example of the failure of Congress-led UPA. This will put a burden of hundreds of crores on Guj.
This decision to hike #petrol prices taken a day after the ending of Parliament session is a stinging rebuke to the dignity of Parliament.
The BJP's Shahnawaz Hussain said the Congress would be taught a lesson in the elections and warned UPA allies that they would face collateral damage for being seen supporting the Congress. He accused the UPA of celebrating three years in power yesterday when the economy was reeling. "The government had taken this step emboldened by the presence of new allies," he said, alluding to leaders like Mulayam Singh Yadav of the Samajwadi Party and Lalu Yadav of the RJD sharing stage with the UPA.
Petrol in Delhi currently costs Rs 65.64 a litre and after the increase it will be priced at Rs 73.14 per litre.
In a statement released Wednesday evening, the state-run Indian Oil Corporation said it was hiking petrol prices by Rs6.28 a litre, exclusive of sales/value-added taxes. Sales and VAT taxes differ from state to state, and range between 94 paise and Rs 2.07 a litre.