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IOC to hike petrol prices by 33 paise per litre from Tuesday
Indian Oil Corporation is likely to hike petrol prices by Rs 0.33 per litre tomorrow. IOC is losing about Rs 1 on sales of every litre of petrol, as crude oil prices have climbed to USD 87 per barrel from USD 81-82 at the time of the last revision.
Updated on: Nov 8, 2010, 16:02:44 IST
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Indian Oil Corporation, the nation's largest fuel retailer, is likely to hike petrol prices by Rs 0.33 per litre on Tuesday.
IOC Chairman BM Bansal said international crude oil prices have risen since the last price revision, necessitating an increase in domestic retail prices.
IOC is losing about Rs 1 on sales of every litre of petrol, as crude oil prices have climbed to USD 87 per barrel from USD 81-82 at the time of the last revision.
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