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Petrol price likely to go up again
This article was posted on Sep 14, 2011 and is filed under Market News
Firm crude & weaker rupee means more losses for OMCs; jet fuel also set to rise, stressing airline finances.
After a gap of four months, oil marketing companies are looking for an increase in petrol prices, with under-recovery on the fuel set to rise to Rs 3.40 a litre later this week from Rs 1 at present. The OMCs are also expected to increase the price of aviation turbine fuel (ATF) by around Rs 1,250 a kilolitre from the current Rs 56,260 a kl in Delhi.
The weakening rupee and firm international petroleum product prices have expanded the revenue losses of OMCs. The loss on diesel would also increase by around Rs 1.25 a litre to nearly Rs 6 in the second fortnight of September. For more visit: Business Standard
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