Petrol Prices flares by 3.14 per litre

Government-owned oil firms have raised petrol prices by 3.14 rupees per liter . A top executive of Indian Oil told AIR that the hike will be effective from midnight. With this, petrol in Delhi will now cost 66.84 rupees a litre. Top Executives of the three oil marketing Companies, Indian Oil, Bharat petroleum and Hindustan Petroleum said that the oil firms were incurring losses of around 2850 crore rupees on petrol. Besides this, an official of Oil Ministry said that the three firms are losing 263 crore rupees per day on selling diesel, domestic LPG and kerosene below cost.

Our Correspondent reports that State owned Oil companies started suffering more losses following increase in the cost of crude oil and depreciation of rupee in the international market.

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