Another Petrol price hike soon

Petrol price set to go up again

Here is what Hindu writes:

With crude prices firming up in international markets, the oil marketing companies are gearing up to revise upwards petrol price by 65 paise a litre, after a review meeting on Thursday. However, this is subject to the government giving the green signal as Parliament is in session.
While the drastic fall of the rupee to an all-time low of Rs. 53.75 against the U.S. dollar has pushed up the cost of oil imports, the international rates of gasoline — against which domestic petrol prices are benchmarked — have also gone up, a senior OMC official said.
Under-recoveries on petrol stand at Re. 0.55-0.56 a litre. After adding the local sales tax, the desired increase in Delhi comes to Re. 0.65-0.66.
The Hindu newspaper