Hike in petroleum product prices after polls
Hike in petroleum product prices to wait till polls
With international crude oil prices hovering around $110 a barrel and the subsidy bill threatening to balloon, touching around Rs. 1,40,000 crore this fiscal, the oil marketing companies (OMCs) have been denied "political go-ahead" to raise the prices of petrol, diesel and domestic LPG due to Assembly polls in Punjab, Uttar Pradesh , Uttarakhand , Goa and Manipur.
The United Progressive Alliance-Il is wary of raising the prices of petroleum products as it feels that not only will this add to inflation, which has been cooling down for the last few weeks, but also upset the voters and work to the disadvantage of the Congress and its allies.
Courtesy: The Hindu, New Delhi, January 19, 2012
