Govt may consider a Rollback in Petro Prices
TNI Bureau: Under fire from the Opposition and its own allies, the Congress-led UPA government may go for a partial rollback in petrol prices within the next 24-48 hours.
The rollback could be by Rs 2.50 per litre, making the final hike Rs 5 per litre. However, it would be interesting to see how the oil companies will react to it.
The Indian Oil Corporation (IOC) yesterday had ruled out any rollback, saying it would result in a huge loss for the oil companies. However, the government may be forced to take the decision to pacify its allies and common people who are outraged over the petro price hike.