The common man could be in for another round of petro hikes soon as the Government is reportedly considering a price hike of about Rs. 1.82 per liter within the next fortnight. Oil companies say that the latest step is being discussed in the wake of the falling Rupee value in international currency markets. This is making petroleum imports more expensive.
Critics on the other hand argue that international crude prices as well as Indian Rupee value have turned favourable over the last week. The latest hike could heighten the already high food inflation rate and will put tremendous burden on the lower income groups.
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