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Oil Companies Planning A Rs. 5 Per Litre Hike In Petrol Prices

As soon as the results of the five states legislative elections came out, the state owned oil companies are stressing the government to increase the price of petrol by Rs. 5 per litre.

HPCL Logo Hindustan Petroleum Corporation

HPCL - Hindustan Petroleum Corporation

“We are losing Rs 5.10 per litre on petrol currently,” a senior oil company official said. “With counting for Assembly elections in five states ending today, we would be approaching the government for appropriate directions on price revision.”

Oil companies revised the price on December 1, but after that they decided to increase it after the declaration of the results of UP elections. Indian Oil, Bharat Petroleum and Hindustan Petroleum together have lost over Rs 900 crore since the last revision which was done at international gasoline price (the benchmark for deciding domestic retail rates) of $ 109 per barrel.

BPCL Logo Bharat Petroleum Corp.

BPCL - Bharat Petroleum Corporation

State owned oil firms lose Rs 13.55 per litre on diesel. They also lose Rs 29.97 a litre on kerosene and Rs 439 per 14.2 kg domestic LPG cylinder.

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