Petrol price may not be hiked on Apr 1

The government may not revise petrol and diesel prices on April 1 as Petroleum Minister Mani Shankar Aiyar, who has piloted a note on the issue for discussion in the Cabinet, will be out of the country at the next due date for revision in fuel prices.

"I am leaving this afternoon on a three-day visit to Saudi Arabia... It is for the Cabinet Secretariat to decide when the issue (of petrol and diesel price revision) comes before the Cabinet for discussion," Aiyar said.

Soaring global crude oil prices and duty changes announced in the Budget warrant a Rs 3.94 a litre increase in petrol and Rs 3.59 per litre hike in diesel prices.

Besides, the implementation of the clean fuel programme is likely to push up the cost of petrol by an additional Rs 0.30 a litre and diesel by Rs 0.24 per litre.

It was previously speculated that the Cabinet may meet on March 30 or 31 to consider revising the prices from April 1, the next due date for change in fuel prices as per the practice of fixing prices every fortnight.

"I am away for the next three days. It is entire up to the Cabinet Secretariat if they want to schedule the issue to come up before the Cabinet in my presence or in my absence," Aiyar said.