And if you though they are reasonably high, Petrol prices are set to get another hike ‘soon’. According to The Hindu, the Petroleum and Natural Gas Ministry is considering another rise in petrol prices. Though, the increase might not be significantly high but anything in the quantum of Rs 1-2 is being considered. The ministry would decide upon the same after the monsoon session of Parliament in the first week of September.
The average crude oil prices are around 81$ per barrel and if they do not soften in due coarse of time, the quantum of increase might increase to a bigger number. This further creates a big concern to the middle class and an uproar is expected in the Parliament in case this decision is announced.
– Saad Khan