The Cabinet Committee on Political Affairs (CCPA) on Wednesday approved the inevitable hike in the fuel prices. Petrol will now be dearer by Rs 5, diesel by Rs 3 and LPG will cost Rs 50 more. The Cabinet, however, has decided against increasing kerosene price. Rates will be effective from midnight.
The Left has said it will hold week-long nationwide protests against the hike from Thursday. Customs duty on petrol and diesel has been cut from 7.5 per cent to 2.5 per cent. Customs duty on crude, however, has been cut from 5 per cent to nil.