Oil companies hike petrol price by Rs 5/litre
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In the steepest hike ever, state- owned oil companies today increased petrol price by about Rs 5 per litre with effect from midnight tonight.
The increase in petrol price, which the oil firms had been holding since January even though crude oil had touched a two-and-a-half-year high, came a day after election results of five state assemblies were announced.
IndianOil, Bharat Petroleum and Hindustan Petroleum will hike rates between Rs 4.99 and Rs 5.01 per litre in Delhi with effect from midnight tonight.
Petrol in Delhi currently costs Rs 58.37 per litre.
The government had freed petrol price from government control in June but the state-owned oil firms had not raised prices on an 'informal' dictate from the oil ministry.
"The hike needed to make domestic rates at par with international prices was Rs 9. (PTI)
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Comments
CA. MANISH MALHOTRA
14-May-2011 , 12:51:32 pmwill reach 100 this year!!!!!!!!!!!!!
Sarbjit Garg
15-May-2011 , 06:02:57 amIncrease in oil prices a return gift by congress party In the just concluded elections, people voted congress to power by gifting its candidates with their votes and in a return gift the Congress government at the Centre has hiked prices of petrol. It appears as if the Congress hand had dagger in it, to attack the common men, on their back as soon as they cast their votes. Is this Congree Ka Ha
Sarbjit Garg
15-May-2011 , 06:05:21 amIncrease in oil prices a return gift by congress party In the just concluded elections, people voted congress to power by gifting its candidates with their votes and in a return gift the Congress government at the Centre has hiked prices of petrol. It appears as if the Congress hand had dagger in it, to attack the common men, on their back as soon as they cast their votes. Is this Congree Ka Ha