Oh no! Another petrol price hike ?

Ahead of assembly elections in four states, the government may manage to hold back an increase in diesel and cooking gas prices, but is unlikely to postpone a hike in the prices of petrol, a fuel that stands de-regulated. State-owned oil companies, led by Indian Oil Corp, Hindustan Petroleum and Bh arat Petroleum, could announce an increase in petrol prices by month-end, a senior oil company official said.




Sources in the oil companies said the hike could be between Rs2 and Rs3 a litre. It may be announced after the Parliament session, expected to end on March 25.



The officer said despite high global crude prices, they couldn’t announce a hike. They were told it could create a panic among consumers, already battling inflation. He, however, said on the back of high crude prices, a hike in fuel prices, especially petrol, had become “absolutely necessary”.


Source :http://www.hindustantimes.com/Another-round-of-oil-price-hike-likely-by-month-end/Article1-671532.aspx