New Delhi, Jan 15 (PTI) State-owned oil companies todayraised petrol prices by Rs 2.50-Rs 2.54 per litre, thesecond hike in a month, on back of rising crude oil prices.
Indian Oil Corp, the nation''s largest fuel retailer, willraise petrol prices by Rs 2.50 per litre with effect frommidnight tonight, while Hindustan Petroleum Corp Ltd (HPCL)would hike rates by Rs 2.54 a litre, an industry officialsaid.
Bharat Petroleum Corp, the third state fuel retailer,would raise price by Rs 2.53 per litre with effect frommidnight tonight.The three firms from on December 15-16 raised petrolprices by Rs 2.94-2.96 per litre, the biggest hike in sixmonths.
Petrol at IOC outlets in Delhi now costs 55.87 per litreand from tomorrow it will be priced at Rs 58.37 a litre.
The fuel at HPCL and BPCL pumps would be sold at Rs 58.39per litre from tomorrow.
Petrol at HPCL pumps at present costs Rs 55.85 per litrewhile it is priced at Rs 55.86 a litre at BPCL fuel bunks.
The official said the increase follows internationalcrude oil prices climbing to USD 92 per barrel.
The state-run retailers are deliberately adoptingmarginally different rates to avoid being accused of acting asa cartel in the free market.
The government had freed petrol prices in June this year,but the state firms, which control 98 per cent of the retailmarket, continue to informally consult the oil ministry beforerevising prices.