After the announcement of fuel price hike starting May 24 midnight, diesel and LPG are likely to follow suit. There are reports suggesting that government is contemplating a cut in subsidies on diesel, kerosene and LPG.
According to sources, the Empowered Group of Ministers (EGoM) will meet on Friday to discuss a possible hike in diesel and LPG prices as well. Media reports said that oil companies are trying for Rs 5 hike in diesel to keep pace with surging petrol prices.
According to the latest petrol price revision, the increase of Rs.6.28 per litre is exclusive of Sales Tax / VAT. So the hike per litre will be over Rs 7.50 across the country.
Hence, the oil companies want the government to shorten the differences in terms of price between the inflammable commodities.
Here is the revised petrol price state-wise: