State-owned oil companies (OMCs) are likely to announce a hike in petrol price tomorrow, though a decision on an increase in diesel price could be delayed for a few days, a top oil company official said.

“We will have a look at petrol price revision tomorrow but diesel price review may have to wait a bit,” a top oil company official, who did not wish to be identified, said. Officials of three state-owned oil companies—Indian Oil, HPCL and BPCL, will be meeting tomorrow to take a call on fuel price revision.

“We (oil companies) have to take a call together. We do talk to each other at times. We will consult tomorrow also. We consult almost on a daily basis. We cannot guess what decision will be taken,” Indian Oil chairman RS Butola told reporters, on the sideline an annual Oil Industry Safety Directorate (OISD) conference here.

“Price hike will be taken care by oil companies and not from the ministry side,” Lakshmi Panabaka, MoS for Petroleum and Natural Gas, who also attended the event, said.

15% drop in bulk diesel sales:

Indian Oil chairman RS Butola today said there has been a 14-15% drop in bulk diesel sales following the decision to free bulk diesel prices since Januray 17.

“There is a drop in bulk sales. It may be about 14-15%. And there is some increase in retail sales, which is not as high as this. But it is based on a couple of days’ sales only. So we cannot say whether it is a trend,” Butola said.

For more visit: Business Standard

Similar Posts:

• Petrol price to go up by Rs. 5 per litre from 05-15-11. Another rate hike on the cards soon!
• Sharpest ever increase in petrol price by Rs 7.50/litre
• Rs 3.50 hike in petrol, diesel prices on the cards
• Petrol may get dearer by Rs 3 per litre
• IOC losing Rs 1.22 per litre on petrol sale