Government may hike petrol & diesel prices
In response to international oil prices, which have seen an upwards trend recently, the Indian government may soon increase petrol prices by Rs 2 per litre and diesel prices by Re 1 per litre. Currently, IOC, HPCL and BPCL lose a mind-boggling Rs 135 crore per day on the sale of petrol, diesel, LPG and kerosene - it is estimated that their total revenue loss for current fiscal will stand at around Rs 38,700 crore.
Right on cue, Maruti has announced that it will launch CNG-compatible variants of most of its cars next year. The company, which has now stopped further development work on LPG-powered variants, says it will now focus on CNG. The Alto and the 800 could be the first CNG variants from Maruti - these are likely go on sale by early-2010.
[Via: indiaautomotive]