Oil PSUs hike petrol price by Rs 3

The hike will be effective from midnight on Wednesday. While the IOC hiked petrol price by Rs 2.96 per litre, the HPCL enhanced the fare by Rs 2.94 per litre. Only on Tuesday, BPCL had hiked the petrol price by Rs 2.95 per litre.

With this, petrol prices at all filling stations owned by the OMCs across the country would go up by nearly Rs 3 per litre.

As per an estimate, with the global crude oil price touching 90 dollars per barrel, the OMCs have been losing nearly Rs 4.17 per litre on selling petrol prior to the hike.

Ever since the government deregulated the pricing of petrol on June 25, the OMCs have revised the retail prices of petrol four times. The Empowered Group of Ministers on Oil Prices headed by the Finance Minister Pranab Mukherjee is likely to meet next week to discuss the issue.

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