NDTV Correspondent, 23 May 2012 | 06:19 PM
The government on Wednesday hiked the price of petrol by Rs 7.50 per litre. The hike will be effective from Wednesday midnight.
The government had decontrolled petrol price in June 2010 but rates were last increased on November 4 last year. This despite oil price rising by 14 per cent and 7 per cent fall in value of rupee against the US dollar.
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