Petrol price to go up by Rs.1.40 per litre
Friday March 01, 2013 06:24:57 PM,
IANS
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New Delhi: Petrol
prices will go up by Rs.1.40 per litre, excluding taxes, from
midnight Friday due to the depreciating rupee and a sharp increase
in crude oil prices in global markets, the government-run oil
marketing firms said Friday.
This is the second increase in petrol price in the past two weeks.
It was hiked by Rs.1.50 per litre Feb 16.
The country's largest oil marketing firm Indian Oil Corporation
said the prices have been revised upward due to the depreciation
in the value of rupee and rise in international crude oil prices.
"The combined impact of these two factors has compelled the
company to revise the prices. The Corporation does not have any
other option but to pass on the increase in motor spirit prices to
consumers as the Corporation has already suffered losses on sale
of motor spirit during the year," Indian Oil Corporation said in a
statement.
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