The government today took a bold step towards reform by allowing for the partial de-control of fuel prices. Starting midnight tonight petrol prices will be market linked. That amounts to Rs 3.50 hike per litre of petrol - a 6.7% increase.
Diesel prices will also be de-regulated, but over time. For now they have been hiked by Rs 2 rupees a litre - that's a 5% increase.