Petrol prices have been hiked on Friday. While diesel is up by 28 paise, prices of petrol have been increased by 12 paise. Petrol in Mumbai is now retailing at Rs 87.94/lt and in Delhi at Rs 82.48/ltr.
Meanwhile, allaying concerns about the return of fuel subsidy regime, a top Finance Ministry official on Thursday said the government asking oil PSUs to subsidise petrol and diesel prices by Re 1 per litre was a “one-time thing” and it does not intend to ask them to do it again.
While oil marketing companies will continue to enjoy marketing freedom, upstream oil producers like ONGC would not be asked to share fuel subsidy burden, he said. Read more