Undertake austerity steps to fight oil price: Moily

After petrol and diesel prices are hiked by Rs 2.35 a litre and 50 paise a litre on Sunday, petrol and natural gas minister Veerappa Moily said that the ministry is adopting some austerity measures and appealed to the people too to undertake austerity measures to conserve oil, or else the petrol bunks will have to be shut down.