Petroleum minister Jaipal Reddy on Tuesday said fuel price hike is unavoidable. Speaking to reporters in New Delhi, Mr Reddy hinted that the decision could be postponed by a few days. He said he would like to tell the people in all humility that an increase is unavoidable. The minister said he has to perform an unpleasant duty.

Mr Reddy said state oil firms are expected to lose more than 188,000 crore rupees revenue on selling diesel, kerosene and cooking gas because of rising international oil prices and the depreciation of rupee. India imports more than 80% of crude oil it processes and pays in dollar. The government has frozen diesel, kerosene and cooking fuel rates since June 2011.