BJP and Left parties have decided to hold nationwide protest against hike in prices of diesel, LPG and Kerosene that was announced yesterday. BJP Spokesperson Nirmala Sitharaman said that increase in fuel prices will have cascading effect on inflation. A release issued by the left parties has demanded withdrawal of price hike. Opposed the hike in fuel prices, West Bengal Chief Minister and Trinamool Congress Chief Mamata Banerjee said, it will put the common man in great difficulty. AIADMK has also demanded an immediate rollback of the increase. Petroleum Minister Jaipal Reddy told reporters after the meeting of the Empowered Group of Ministers that fuel price hike is minimal and unavoidable. The government had also abolished the 5 percent customs duty on crude oil and slashed import duty on all petroleum products to 2.5 percent from 7.5percent. It has cut excise duty on diesel to 2 rupees per litre from 4 rupees 60 paise. The duty cut will cost the government an estimated 49,000 crore rupees this fiscal.