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/ India News / 2007 / December 2007 / December 21, 2007 Hike in fuel price likely in January, says Union Petroleum Secretary |
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The prices of petrol and diesel in the country are likely to increase in the first week of January, according to Union Petroleum Secretary M S Srinivasan.
Coimbatore, Dec 21 : The prices of petrol and diesel in the country are likely to increase in the first week of January, according to Union Petroleum Secretary M S Srinivasan.
Srinivasan said that the increase would be minimal, and the hike has been necessitated by the increase in the global crude oil price, which is inching towards a 100-dollar per barrel mark.
He said that the fluctuation in the prices of crude oil in the global market has led to an additional burden of Rs 49,000 crore to the Centre in 2006, and this year the loss would rise to Rs 75,000 crore.
The group of empowered ministers would take a final decision on the price hike at a meeting next month, he added.
ANI
