CCPA reaches final decision on fuel price hike, announcement at noon

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New Delhi, Jun 4 (UNI) The Cabinet Committee on Political Affairs, which met here today, is understood to have taken a final decision on fuel price hike and the announcement will be made this afternoon.

The CCPA meeting is believed to have proposed a price hike in the range of Rs 3-5 on petrol and and Rs 2 on diesel.

An official briefing on the decision will be made at 1200 noon.

The Committee, which is a high powered body, also discussed a proposal on the LPG distribution that includes supply of eight cylinders in a year at the current price.

Prime Minister Manmohan Singh is likely to address the nation on fuel price hike later in the day.

State-run oil marketing companies like IOC, HPCL and BPCL are expected to lose Rs 2,46,000 crore by way of revenue on account of selling subsidised petrol, diesel, kerosene and LPG.

UNI PMD-SBA Mir HS1108

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