he Government of India finally decided to raise petrol prices by Rs. 2 per litre and diesel prices by Rs. 1 per litre after many months of stalling and opposition from the Left parties. The price rise however will only partially offset the financial burdens faced by oil marketing companies as they would continue to lose around Rs. 7.20/litre on petrol and Rs. 9.94/litre on diesel1.

• 1. “Government raises petrol and diesel prices,” The Economic Times, February 16, 2008, at http://economictimes.indiatimes.com/Features/The_Sunday_ET/Government_ra...