However, due to the downward revision of petrol and diesel prices in Delhi that came into effect in May-June this year, the prices of the two commodities were US$0.03 (petrol) and US$0.04 (diesel) cheaper despite the hike.
Indian pump prices up ... sort of
India's Petroleum Minister Ram Naik has defended the rise in the petrol and diesel prices in the country as justified, given the rising cost in global crude prices. Naik, however, believes that the rise will not hurt consumer interests, as the price of kerosene and LNG remain unaffected.
- 04 September 2003
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