New Delhi: The much anticipated Cabinet Committee on Political Affairs (CCAP) meeting decided to give a hefty Rs.5 hike per litre in Diesel, while there is no increase in the prices of petrol, kerosene and LPG. And most importantly this price hike of diesel will be effective from Thursday midnight. Originally the CCPA meet was scheduled on Tuesday but somehow without giving any proper reason, meeting was postponed. Even Oil minister Jaipal Reddy mentioned that the price hike is unavoidable because of the increased price of crude oil in international market.
He had also stated that, “As I said before, however painful and difficult the increase in price of oil product may be, increase is unavoidable. (To) what extent can consumer take (it) is another matter.”
Although, government has decided to make this diesel VAT free, that means there will be different rates of diesel in each state. There is no price hike for petrol and LPG but in the case of LPG, government decided to allow only 6 cylinders per year and customers have to pay Rs 750 or more for the excess cylinder