Commodity Online
NEW DELHI : A price hike for petrol and diesel is on the cards as Petroleum Minister Murli Deora, who favored an increase in petrol prices, met the Prime Minister Wednesday to discuss the matter.

The government will likely to announce it after Thursday’s cabinet meeting, analysts said.

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The price revision could see petrol prices increased by Rs 4 per liter and diesel prices by Rs 2 per liter.

That government has been considering raising prices as petrol companies have been suffering heavy losses due to the rising price on crude in international market.

Crude, which had sunk to $35 level earlier in global trade, is now hovering around $70 mark. India imports 70 per cent of its crude oil requirement