Tuesday, 1 November 2011

Fuel Price to hike again ? This time by Rs 1.82 per liter of Petrol




Fuel Prices are set for another hike ?

State owned petroleum firms including HPCL, BPCL and IOCL are pushing the government to increase the petrol prices by Rs 1.82 per liter as the companies are bearing huge loses, this time due to depreciating currency.

State owned petrol firms say, petrol is hovering at around $108 while the Indian currency has depreciated from Rs 46 to currently Rs 49, HPCL director B. Mukherjee told to reporters today.

Mukherjee said the loss on petrol is currently Rs 1.50 per litre and after including local levies, the desired increase in retail prices is Rs 1.82 per litre. The discussions are still going on, we will have to wait for the final wordings of the government.

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