IOC may raise petrol prices again
Indian Oil Corporation (IOC), the country’s biggest fuel retailer, is looking at raising retail prices of petrol from Tuesday, Chairman B M Bansal said on Monday, due to rising global crude oil prices.
“We are mulling an increase in petrol price,” Bansal told reporters on the sidelines of an industry event. He said a decision to raise petrol prices would be taken either on Monday or Tuesday.
Oil prices are near two-year highs partly on expectations that sluggish but sustained economic recovery in industrialised nations and rampant growth in Asia will fuel demand.
This will be the third increase in Indian domestic retail prices of petrol since New Delhi ended government control of petrol prices in late June.
Another state-run refiner, Hindustan Petroleum, raised petrol prices by 31 paise (0.7 US cents) a litre from Monday.
source: Business-Standard
Tags: ioc, new petrol prices, petrol prices, petrol prices from tomorrow
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