Advertisement

HindustanTimes Sun,20 Apr 2014

Oil companies defer petrol price hike

HT Correspondent , Hindustan Times  New Delhi, May 17, 2013
First Published: 23:40 IST(17/5/2013) | Last Updated: 23:42 IST(17/5/2013)

State-owned oil companies have deferred a decision on the revision in petrol prices to end of this month.

Advertisement

“International oil and petroleum product prices have again started firming and even the rupee-dollar equation is fluctuating… but we will wait till the end of the month and see how the situation emerges,” a senior oil company official said.

Oil companies have implemented four consecutive reductions in petrol prices. The price of petrol was last reduced by Rs. 3 per litre — the steepest cut in more than four years — on May 1. Prior to this, the rates were reduced by Rs. 1 a litre on April 16, 85 paise a litre on April 1 and Rs. 2 a litre on March 16.

Petrol currently costs Rs. 63.09 a litre in the capital. While petrol prices are revised every fortnight, diesel prices are being adjusted by 50 paise a month by the oil companies.

Following the May 10 hike, diesel presently costs Rs. 56.04 a litre (in Delhi).

Advertisement
more from Business

700 trainees opt for exit plan at Nokia’s Chennai plant

Finnish handset maker Nokia, struggling to shepherd its Chennai plant into its agreement to be bought by US software giant Microsoft amid tax disputes in India, has got some success with 736 of its trainees accepting the voluntary separation scheme.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved