Kerala exclusive news Petrol Price Rs 5 Increased

Saturday, May 14, 2011: 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.

Kerala exclusive news Petrol Prices Hike- before may 10th - india

New Delhi, Wednesday, April 27, 2011: State-run oil firms are likely to raise prices of petrol shortly, possibly after May 10 when the state polls end.

An indication of an imminent price revision came on Monday (April 25) from Ranbir Singh Butola, chairman of Indian Oil Corporation, which controls 55% of the market.“We would do it at the earliest possible,” he said. Butola neither gave a time frame for the revision nor quantity the increase. But sources said an increase of up to Rs 3 may be on cards and could be announced on May 15 during the fortnightly review of prices.

The companies have the freedom to revise petrol price in tandem with international crude.