Petrol price hike: Oil Minister Reddy meets PM

Oil Minister Jaipal Reddy met Prime Minister Manmohan Singh after returning from Turkmentistan. However, the Prime Minister's Office (PMO) insisted that the meeting was not scheduled to discuss the petrol price hike.

Reddy has also been summoned by UPA chairperson Sonia Gandhi and he will meet her later on Friday to explain why the petrol price hike was necessary.

Congress sources claimed that Sonia was unaware of the move despite the fact that it's the steepest-ever hike in the price of petrol.

On Thursday, the Congress had asked its chief minister's to provide some relief by lowering taxes on petrol. Uttarakhand and Kerala have already announced a cut in taxes.

Delhi Chief Minister Shiela Dikshit, too, assured relief. She said, "We will give relief to the people. Will do as much as we can. The last time petrol prices were increased, we had reduced VAT on the increased prices. We are thinking on the same lines. We are presenting the budget on Monday, will tell then."

The DMK also on Friday called for a state-wide protest on May 30, while the BJD has called for a bandh on May 31.

Reddy had left for Turkmenistan on his official visit on May 22 and a day later oil firms raised prices by Rs 7.54 a litre in Delhi. A hike in LPG and diesel prices may not take place immediately either.