Domestic consumers of motor spirit and high speed diesel should brace themselves for another increase in the prices of the two petroleum products with international prices continuing to rule high as fear of possible war in West Asia kept a tight grip over the world market.
The quantum of the increase will be decided on Friday when petroleum minister Ram Naik meets finance minister Jaswant Singh to discuss the possibility of a duty cut on crude oil and petroleum products.
It will be safe to assume that in case the finance minister agrees for a duty reduction, the increase would be only marginal
