Oil price hike

The empowered group of ministers (EGoM) today decided to deregulate petrol and diesel prices. However, for now, diesel prices have only been increased by Rs 2. The hike in petrol prices would be close to Rs 3.5.Kerosene prices, untouched since 2002, have been hiked by Rs 3 while the cost of an LPG cylinder would go up by Rs 35 per cylinder. The government currently gives a subsidy of Rs 262 per cylinder.