The Union government has hiked petrol prices by Rs 2.35 a litre and diesel by 50 paise a litre (excluding State levies) on the evening of August 31. A further raise could be on the way as per the indication of the Union Petroleum Minister M Veerappa Moily. Though he did not indicate the quantum of hike, the wide expectation is that the companies are pitching for an increase of almost Rs 3-5 a litre for diesel, PDS kerosene Rs 2/litre and domestic LPG Rs 50/cylinder.
Tag: petrol prices
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Oil firms may cut petrol prices by more than 1 Re
Considering the latest fall in international oil rates, oil firms in India plan to slash petrol prices by more than one rupee per litre shortly. But the oil companies may have wait for the Parliament's decision to hike diesel prices.