New Delhi: Relax! There will not be any fuel price hike on Friday.
Even as the Petroleum Ministry readied for a review of the prices of all petroleum products on Friday, Petroleum Minister Murli Deora said there will not be any hike in fuel prices for now.
"We will review oil prices only if the Indian crude basket crosses $71/bbl . The Indian crude basket is currently pegged at $70.84/bbl," he said.
The last hike by state-owned companies was on June 5. Petrol prices were raised by Rs 4 per litre and diesel prices were upped by Rs 2 per litre.
The government, however, did not increase the prices of kerosene and domestic LPG.
The public sector retailers were given autonomy to raise prices when Indian basket of crude oil stays above $70 a barrel for a month.
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