Left slips on petrol, agrees to hike

The Left agreed to a hike in petrol by Rs 1.22 per litre but said it would prefer the government go ahead with the increase only after the US elections. 8216;8216;We believe that the prices might come down after that,8217;8217; said Yechury.

The Left also said they agreed to the hike because they understood the government8217;s predicament. But they hoped the UPA government to do something to 8216;8216;cushion the impact8217;8217; on the common man. 8216;8216;We understand the government is under tremendous pressure. Now, with crude oil prices touching nearly US 56 a barrel, the government has a valid case,8217;8217; Yechury said.

But there was a rider. The Left continued to oppose hike in the prices of LPG and kerosene. These are the areas where the Left has been pleading for a subsidy raj to appease the middle-class, mostly in Kerala and Bengal. Aiyar said a decision on prices will have to be taken by Sunday, possibly at a meeting with the Prime minister or the Cabinet committee on economic affairs.