Fuel to burn hole in common men's pocket

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Swallowing the bitter pill, state owned oil companies announced a further hike in prices of petrol by Rs. 1.82 per litre on Thursday citing the impact of rupee depreciation on the cost of crude oil imports.

To combat the spurt in global oil prices government has to bite this bullet and go for the hike amidst protest from opposition as well as allies. Effective from Thursday midnight i.e. 4th Nov 2011 petrol will cost ` 68.64 a litre in Delhi, ` 73.74 in Mumbai, ` 73.15 in Kolkata, ` 72.73 in Chennai and Rs.75.68 per litre in Bangalore.

In Kolkata, Mamata Banerjee showed his anger and disagreement with the recent hike and said her party had not been consulted about the hike, and that her MPs are willing to quit the UPA if they are excluded from decisions like this one which affect the common man. "There is no way our MPs can defend this to our people," she said

Last Updated on 11/7/2011