Some roll back in petrol prices possible: Congress source

Nov 04, 2011 |

Reuters

New Delhi

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India could partially roll back a 2.7 percent hike in petrol prices, a source in the ruling Congress party said on Friday, as the move angered opposition and government allies at a time when inflation is hovering around double-digit.

State-run fuel retailers raised petrol prices on Thursday to cut the impact of high global oil prices on their bottomlines.

"The congress party is very concerned about the hike and calls upon the government to look into the matter. We hope and trust that the government will find ways and means to give relief to the common man," the source told reporters.

He said there would be a meeting on petrol prices when Prime Minister Manmohan Singh returned from a G20 summit.

"There may be a partial roll back," the source said.

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