Oil Price Hike

The UPA Government after days of discussions and dithering swung into action and increased Petrol prices by Rs.5 / litre and Diesel by Rs.3 / litre. LPG cylinders were hiked by Rs.50 and a quota of 8 subsidised LPG cylinders / family per annum was introduced to limit the huge losses run up by the Oil Marketing Companies.Kerosene rates were left unchanged. Too little , too late ? PM Manmohan Singh is slated to address the Nation later tonight justifying the price hike.
We need to work to end these subsidies sooner or later.India imports most of its requirements of Oil and Gas.