The Indian government has taken the risky move of increasing the petrol and diesel prices steeply by around 8% with immediate effect. The prices of petroleum products like petrol , diesel, kerosene and natural gas are controlled by the government and is a politically sensitive matter.
While the government avoided raising the prices for the last three months due to the general elections, it could not delay the price increase any more, because the crude oil prices have already doubled in the last three months.