Petrol and diesel prices may rise: Govt

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The petroleum retail sector could be in for changes as the Indian government prepares to increase retail prices of petrol and diesel.

According to an official in the oil ministry, this move by the ministry is in response to a surge in the global crude rates in recent months.

Oil Secretary MS Srinivasan, in a statement, said, “The possibility is there. There will be some changes.” A specially appointed panel of ministers will meet later today to recommend a possible rise in prices.

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