Oil's not well

Updated: May 23, 2012 23:05 IST

BJP protesters burn the effigy of UPA government against the petrol price hike, in Hyderabad. State-run oil firms announced a sharp hike in petrol prices to offset growing losses caused by subsidised rates, rises in the international oil price and a plunging rupee. The increase, the steepest in nearly a decade, was put at Rs 6.28 per litre which will mean a Rs 7.5/L hike, adding taxes, for consumers in metros. AFP/Noah Seelam
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BJP protesters burn the effigy of UPA government against the petrol price hike, in Hyderabad. State-run oil firms announced a sharp hike in petrol prices to offset growing losses caused by subsidised rates, rises in the international oil price and a plunging rupee. The increase, the steepest in nearly a decade, was put at Rs 6.28 per litre which will mean a Rs 7.5/L hike, adding taxes, for consumers in metros. AFP/Noah Seelam

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